First State Bank (Richfield, NE)

Episode Information

Episode UID
76123271521
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7612327 routing
Routing Number
76-1232
Start Date
September 6, 1926
Location
Richfield, Nebraska (41.108, -96.075)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
75a0d62421e04df7

Response Measures

None

Description

Failure tied to missing president and discovered embezzlement/worthless securities.

Events (3)
1. September 6, 1926 Receivership
Newspaper Excerpt
Receivership for the state bank Richfield, Neb., is asked ... petition alleged that the bank carries about $15,000 of worthless papers, sufficient to institution insolvent.
Source
newspapers
2. September 6, 1926 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank became insolvent after disappearance of president E.C. Goerke and discovery of about $15,000 in worthless papers/embezzlement.
Newspaper Excerpt
Citizens plan to buy defunct First State Bank of Richfield; bank became insolvent following the disappearance of E. C. Goerke ... affairs of the Richfield bank are in good condition with the exception of worthless securities placed in by Goerke.
Source
newspapers
3. December 27, 1926 Other
Newspaper Excerpt
Former bank cashier admits he embezzled ... Glenn Benter gets 10 years for five hundred dollars from failed Richfield bank.
Source
newspapers

Newspaper Articles (4)
1. September 6, 1926 Fremont Tribune Fremont, NE
Article from Fremont Tribune, September 6, 1926

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Article Text

CITIZENS PLAN TO RUN DEFUNCT RICHFIELD BANK Sept. are being made for 30 citizens of Richfield. Neb., to the defunct First State Bank of Ritchfield. said Van E. Peterson, secretary of state guaranty fund commission, upon Mis return here today from an investigation of the institution. The bank became Insolvent following the disappearance of E. C. Goerke, its A nation wide search for Genrke has been underway several weeks. Peterson said that affairs of the Richfield bank are in good condition with the exception of in worthless securities placed in Georke.

2. September 6, 1926 The Grand Island Independent Grand Island, NE
Article from The Grand Island Independent, September 6, 1926

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Article Text

ASKS RICHFIELD STATE BANK Papillion, Neb., Sept. receivership for the state bank Richfield, Neb., is asked tion filed Saturday by General Spillman district court here. The petition alleged that the bank carries about $15,000 of worthless papers, sufficient to institution insolvent. The bank has capital stock of and total deposits of less than $90,000. Goerke, president of the bank, has been missing since the wrecking the State Bank of pillion, which he also head.

3. September 7, 1926 The Stockman's Journal Omaha, NE
Article from The Stockman's Journal, September 7, 1926

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Article Text

Citizens of Richfield Plan to Buy Defunct Bank investigation the institution. The bank president. search has been under way several weeks. Lincoln. Plans being for 30 of Righfield. the defunct First State bank of Peterson said affairs of the Richfield said Van secre- are the ception of worthless securities tary the commishis return here today from an placed in by Goerke sion, upon

4. December 27, 1926 The Plattsmouth Journal Plattsmouth, NE
Article from The Plattsmouth Journal, December 27, 1926

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Article Text

Former Bank Cashier Admits He Embezzled Glenn Benter Gets 10 Years for Five Hundred Dollars From Failed Richfield Bank. Papillion, Neb., Dec. former cashier the First State of Richfield, four south of who was at Schuyler, Neb., warrant charging which was sworn here by County Attorney pleaded guilty today at his preliminary arraignment before CounJudge Wheat. was sentenced this afternoon District Judge James Begley, term of from to ten years. Benter, cousin Goerke, missing former president of both Papillion State bank and the First State bank Richfield, both of which failure summer, left the latter stitution before it was taken the state guaranty fund commission. failed with the crash of the State bank. In the warrant, he was formally cused five hundred this At the time the Richfield bank closed, understood that of funds approximately thirty Benter employ bank went to the his parin Burke, and later When County Attorney Collins of his he signed the complaint based. In his plea of guilty before Judge Wheat, he had no comment to make. Sheriff Olderog of this county to Papillion at today from Omaha where he took him custody from the sheriff at Schuy-