Generator — Summer 2023

The rise and fall of Citizens State Bank
The Creston Statesman
Friday, February 4, 1921
CRESTON’S NEW
MODERN BANK BUILDING
The bank is a firm believer in
reciprocity and felt that since they had
prospered it was only right that they
should do their part in the up-building
of the community by erecting a home
that would be a credit to the town and
a real convenience to their patrons
and to the public generally.
With this thought in view, they have
erected one of the Most Modern
and Up-to-date Bank Buildings
in this part of Nebraska. It is of
permanent construction and fire
proof throughout, and faced with
white Terra Cotta of a very artistic
design. The building is 26x80 feet.
The interior finish and fixtures are of
the finest quality of Mohagany and
Marble, with Marble floor in the lobby.
The whole building is arranged with
an idea to convenience, giving ample
room for the clerical force of the bank
and general public.
Some of the special features of this
bank are as follows: A community
room at the back of the building
especially designed and arranged
for the use of the public as a meeting
place with access from an outside
entrance, a ladies rest room at the
right as you enter the building. They
welcome all ladies of Creston and
vicinity to enjoy its comforts. The
Bank is equipped with a fire proof
vault which fully protects all books
and records, while funds, notes,
bonds, monies, etc., are carried inside
one of the latest patterns of burglar
proof Manganese steel safes with
triple time locks . . .
The bank merits the confidence of
the people and that they have this
confidence is abundantly testified by
the fact that they have at the present
time a very large volume of business.
Of course all of their customers are
protected not only by their honesty
and ability of management, but by
the Guaranty Fund of the State of
Nebraska.
They want the community to feel that
this is their bank and to feel that its
conveniences and facilities are freely
at their disposal, no matter whether
they happen to be a customer or not.
They feel that they are too broad
minded to draw any distinctions and
want you all to feel perfectly free to
come in, meet friends here, to make
use of its facilities in any way. Of
course they want all the business they
can get, but they want this based on
the idea of mutual service.
The Creston Statesman
Wednesday, June 3, 1931
CITIZENS STATE BANK TAKEN
OVER STATE DEPARTMENT
Doors closed at the request
of Fred Rabeler on Monday
The Citizens State Bank was closed
Monday afternoon when a sign
was put on the door saying that the
institution was being taken over by
the state banking department. The
order was signed by Virgil Lee, state
bank examiner.
According to a dispatch from Lincoln
Fred Rabeler, the present owner of the
Creston bank, was in Lincoln Monday
and requested the department of
trade and commerce to take over the
institution.
Creston people are unable to
understand Mr. Rabeler’s reason
for bringing this calamity to the
community—a community whose
fertile lands and prosperous
landowners should be proof against
a bank failure. Mr. Rabeler has not
been at Creston since last Thursday
and hence Creston people have no
statement from him regarding the
closing of the bank . . .
The closing of the bank is a severe
blow to the entire community,
whether depositors in the bank or not.
While most people feel that a large
percentage of the money in the bank
will be paid back to the depositors, yet
it will be tied up for some time.
A FEW LAMENTATIONS
ON THE BANK FAILURE
Every bank failure has its attendant
lamentations and the Creston bank
flareup is no exception. After working
hard all year to accumulate a sum of
$150 with which to go to a Scout camp
for 10 days vacation, our Girl Reserves
find their money tied up in a failed
bank. This is a great disappointment
to these young girls.
The fund for the Presbyterian
Bible school is tied up in the failed
institution, but the faithful teachers
who have offered their time for this
work are going to carry on without
funds.
The members of the Luther League
purchased a piano recently which was
to be delivered this week. Since their
funds are now tied up in the failed
bank with no hopes of raising the
money, they are obliged to cancel the
order.
One man that was shooting off loudly
that he had lost $300 in the failure
received a sarcastic reply from a
bystander that if he had paid the folks
in the community whom he owed, he
would not have lost a cent.
SUMMER 2023 | 7