The articles mention the Crofton bank's failure precipitated a run on the Hartington bank, but do not explicitly describe a run on the Crofton bank itself prior to its closure.
Events (4)
1.April 21, 1906Chartered
Source
historical_nic
+26 years
2.May 31, 1932Suspension
Cause Details
The bank closed two days prior to June 2nd (Hartington's closure), likely due to the general economic storm mentioned in the context of regional failures.
Newspaper Excerpt
Failure of the local bank was no doubt hastened, if not precipitated by the closing of the First National of Crofton only two days before.
Source
newspapers
+1 day
3.June 1, 1932Receivership
Newspaper Excerpt
Fred Burchmore, federal bank died here yesterday for the Norfolk National Bank and for the First National banks Tilden, Hartington and Crofton, Neb.
Source
newspapers
same day
4.June 1, 1932Receivership
Source
historical_nic
Newspaper Articles (13)
1.June 9, 1932The Plainview NewsPlainview, NE
Article Text
HARTINGTON'S LAST BANK IS CLOSED
Hartington.-The First National of Hartington closed its doors last Thursday night after being in business for half a century lacking one year. A depleted cash reserve and withdrawal of deposits are given by officers as the reason for suspension. The bank might have continued to operate for a while longer, it is stated; but in order to protect their depositors, the board of directors decided to close. Failure of the local bank was no doubt hastened, if not precipitated by the closing of the First National of Crofton only two days before. There was quite a heavy run on the bank the previous day, it is reported.
2.June 9, 1932The Homer StarHomer, NE
Article Text
pond, he found the fish still the Proof the Elmo farm four northeast Hartington recently when bolt killed fine horses and stunned others and but failed ignite The lightning entered the barn through hay two that had with their during hour The two were killed two an adjoining stall stunned, was little that happened be the barn the time. pulled apart like paper folincident. of 2000, more without bank, First National Bank having closed doors just after being for nearly half century depleted reserve withdrawal of deposits are given officers the for pension. The tinued longtheir the board of decided Failure the bank no doubt hastened, closing the Crofton before. quite the bank the day, report-
3.June 17, 1932The Ashton HeraldAshton, NE
Article Text
Hartington, County Sea: Now Without a Bank
Hartington people are stand. ing around on the street corners in little groups discussing the latest news. The news is un. pleasant and distressing an. other bank failure. The First National has closed its doors following, it is said, a heavy run The institution had made a heroic fight and the community hop., ed against hope that it might weather the economic storm, but it finally succumbed. The crash was no doubt hastened, if not OC. casioned, by the failure of the First National Bank of Crofton Failure of this bank creates an extraordinary situation. A county seat without a bank which formerly had three. In 1907 this community had three flourishing institutions— the Hartington National, the First National and the Farmers State. Later the First National and the Farmers State combined and still later the Cedar County State was organiz. ed. The first crash came in 1928 with the closing of the Hartington National, the Cedar County State failed in 1931 and now the last survivor has gone into the hands of the receiver.
4.September 5, 1932The Hastings Daily TribuneHastings, NE
Article Text
BANK RECEIVER DEAD
NORFOLK, Neb., Sept. Fred Burchmore, federal bank died here yesterday for the Norfolk National Bank and for the First National banks Tilden, Harting ton and Crofton, Neb.
5.September 5, 1932Kearney HubKearney, NE
Article Text
Nebraska News Notes.
Nebraska City, Neb., Sept. Violet Turnbaugh, 15, was near here yesterday afternoon when she stepped into deep hole the Missouri river. The girl had been wading with number compan Boats of Nebraska City Outboard Motor association races aided in searching for the body.
Norfolk, Neb., Sept. B. 59, federal bank receiver, died here yesterday. He receiver for the Norfolk National bank and the First National banks Tilden, Hartington Crofton, Neb.
Grand Island, Sept. Viola Knop, ended her life yesterday She believed dispondent over health.
Kennard, Neb., Sept. body Harry Japp, was found hanging from here Saturday ternoon. The youth had been missing from his home since Thursday was believed to have ended his life while over inability find steady employment.
Dalton, Neb., Sept. 5.-State and county officials are seeking identity of safe cracksmen blew open the post office safe here and made off in cash and equal sum stamps pool hall and blacksmith also were entered, presumably by the same marauders.
6.September 5, 1932Omaha World-HeraldOmaha, NE
Article Text
ment bank receiver for the Norfolk National, and the First National banks at Tilden, Hartington and Crofton, Neb.
Besides Mrs. Sweeney, Mr. Burchmore is survived by his widow, Daisy V.; six sisters, Mrs. Rose Allen of Norfolk, Mrs. Sophie Rickman of Port Angelus, Wash.; Mrs. Emily Mansfield, Fort Sill, Okla., and Mrs. Elizabeth Lunquist, Mrs. Laura Hallquist and Mrs. Helen Sorenson, all of Omaha, and one brother, George, of Omaha.
The body will be brought to Crosby's mortuary here. Services will be Tuesday at 2 at the Masonic temple, in charge of Right Angle
7.September 5, 1932The Stockman's JournalOmaha, NE
Article Text
Fred Burchmore Dies
Norfolk, Neb., Sept. B. Burchmore, 59, federal bank receiver, died here yesterday. He was receiver for the Norfolk National bank and for the First National banks Tilden, Hartington and Crofton, Neb.
8.September 8, 1932Norfolk Daily NewsNorfolk, NE
Article Text
New Receiver for National
Harald Nomland, new receiver the Norfolk National bank, arrived here late Wednesday and assumed new duties Thursday morning. Mr. Nomland succeeds the Frank Burchmore, who died suddenly short time ago, He will receiver for the First National bank of Tilden, the First National Crofton and the First National Hartington. experienced bank receivcoming here from Kearney where held that position for the City National bank. Prior to his service there Mr. Nomland bank receiver at Stockton and Phillipsburg, Kan. He married and has daughter years old. The family will move here once.
9.September 10, 1932The Omaha Morning Bee-NewsOmaha, NE
Article Text
TRANSFER BANK RECEIVER
KEARNEY. Sept. Nomland, receiver of the City National bank of Kearney, has been transferred to Norfolk, where he will be in charge of the Norfolk National bank and the First National banks at Hartington, Tilden and Crofton. Affairs of the City National are in the final stages of liquidation, and the final dividend, probably 2.8 per cent and amounting to approximately $50,000, probably will be ready in October. With the payment of this final dividend, the creditors will have received trifle 50 per cent of the total approved claims of $1,682,000.
10.February 16, 1933The Crofton JournalCrofton, NE
Article Text
Holiday Committee Meet Bank Receivers
An Agreement Is Reached and MisUnderstandings Clear Up At Hartington
The Crofton Farmers Holiday com mittee which met, with officials in charge of the defunct First National Bank of Crofton, Monday afternoon at Hartington, report a very satisfactory meeting. The various misunderstandings were discussed, suits against borrowers were dropped for the present. Those who represented the farm er were Ames Thompson, Ray Kramer, Paul J. Kohles and E. J. Gobel. These reperesenting the bank interests were Herald Nomland, re ceiver; Otto Burkhardt, Alfonse "Tubby" Lammers, and Mr. Weod ward.
Mr. Nomland and the holiday com mittee stated Monday, that it was recently incorrectly stated in Sionx City papers that the First National Bank of Crofton had filed suits against 56 borrowers. According the committee this is false. There were 15 against whom pro ceedures were started, all these have been satisfactorily settled. The meeting was called by a spacial arrangement between the Hol iday committee and Mr. Nom nd
According to one newspaper cor respondent the new admini will use the war debts to bargain with for increased W rld trade All right, SO we don't for increased debts in return the shipment cel of goods from Europe.
11.March 2, 1933The Crofton JournalCrofton, NE
Article Text
Knox County Receives $10,000 From Closed Bank
Edw. J. Lenger Receives Money Of The Crofton First National Bank
With a communication, dated Feb. ruary 24, received by Edw. J. Lenger, Knox county clerk, a draft for $10, 266.98 was received from bonds which secured Knox county deposits in the First National bank of Crofton.
The draft was received from G. H. Pipkin of the Kansas City Mo. Reserve bank who was instructed in the matter by Harald Nomland, bank receiver.
The amount represented the deposit amounting to $10 106. and interest on it. The par value of the bonds was $12,500. They were sold in order to pay the amount. This is the second payment made from the defunct bank. The other was around $5,000 received by the Crofton school board on school deposits.
12.March 9, 1933The Wausa GazetteWausa, NE
Article Text
KNOX COUNTY RECEIVES $10,000 FROM CLOSED BANK
Edw. J. Lenger Receives Money Of The Crofton First National Bank
With a communication, dated Feb ruary 24, received by Edw. J. Lenger, Knox county clerk, a draft for $10,266.98 was received from bonds which secured Knox county deposits in the First National bank of Crofton. The draft received from G. H. Pipkin of the Kansas City, Mo., Re serve bank who was instructed in the matter by Harold Nomland, bank receiver. The amount represented the deposit amounting to $10,106.79 and interest on it. The par value of the bonds was $12,500. They were sold in order to pay the amount. This is the second payment made from the defunct bank. The other was around $5,000 received by the Crofton school board on school deposits.-Ex.
13.August 3, 1933The Tilden CitizenTilden, NE
Article Text
Forrest Lear Is Named National Bank Receiver
Forrest Lear of Norfolk, present in bankruptcy for the Norfolk has been named receiver for the Norfolk National bank, also First National bank of Tilden and First tional bank of Crofton, succeeding Harold Nomland, who was appointed receiver following the death of Burchmore. understood that Mr. Lear will continue for the present as referee bankruptcy although he assumed the position receiver at the close of business Wednesday. John Wehr, clerk and field who has been manager, charge of the bank here will tinue his position is announced.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.