Department of Banking v. Elm Creek State Bank

Appellant, Daryl Calkins, a stockholder in the insolvent and dissolved Elm Creek State Bank (hereafter Bank), appeals from an order of the District Court for Buffalo County, Nebraska. We affirm the order of the trial court.

Some background is necessary. On May 8, 1973, the Department of Banking, State of Nebraska, filed a Declaration of Insolvency of the Bank. The Federal Deposit Insurance Corporation was appointed receiver.

In due course, on the 20th of June, 1974, the Federal Deposit Insurance Corporation filed an order on classification and priority of claims and allowed claims denominated…