10084. First National Bank (Hobson, MT)

View Charter #10715 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
10715
Charter Number
10715
Start Date
August 24, 1933
Location
Hobson, Montana (47.001, -109.875)

Metadata

Model
gpt-5-mini
Short Digest
80c7cafa934a451f

Response Measures

None

Receivership Details

Depositor recovery rate
39.3%
Date receivership started
1930-12-26
Date receivership terminated
1935-02-11
OCC cause of failure
Losses
Share of assets assessed as good
12.6%
Share of assets assessed as doubtful
53.5%
Share of assets assessed as worthless
33.9%

Description

Articles (Aug 1933) report that the Comptroller appointed a national bank receiver (Dr. B. Sullivan) to close up affairs of several closed national banks including Hobson. No run or reopening is mentioned; action is a government-appointed receivership/closure.

Events (4)
1. March 9, 1915 Chartered
Source
historical_nic
2. December 26, 1930 Receivership
Source
historical_nic
3. August 24, 1933 Receivership
Newspaper Excerpt
Dr. B. Sullivan ... was appointed national bank receiver for Montana by the comptroller of currency ... to close up the affairs of the banks Roy, Hobson, Stanford, Grass Range ... He will have headquarters Lewistown. New Bank Receiver Appointed for First National of Stanford ... Dr. Sullivan was also appointed by the comptroller of the currency as receiver of the closed national banks at Roy, Grass Range, Hobson and Lewistown, succeeding Mr. Miller in all these places.
Source
newspapers
4. August 24, 1933 Suspension
Cause
Government Action
Cause Details
Comptroller of the Currency appointed a national bank receiver and the banks are described as closed; suspension/closure by government action
Newspaper Excerpt
He was also appointed by the comptroller of the currency as receiver of the closed national banks at Roy, Grass Range, Hobson and Lewistown
Source
newspapers

Newspaper Articles (2)
1. August 24, 1933 Tribune of Shelby Shelby, MT
Article from Tribune of Shelby, August 24, 1933

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Article Text

Sullivan Gets Bank Appointment Dr. B. Sullivan of Sweet Grass visitor in Shelby yesterday enroute to Lewistown. Mr. Sullivan was recently national bank receiver for Montana by the comptroller of currency at Washington, His first duties will be to close up the affairs of the banks Roy, Hobson, Stanford, Grass Range and the Valley County bank Lewistown. He will make his headquarters Lewistown but visit Toole county frequently to attend to his business interests here.

2. August 31, 1933 Judith Basin County Press Stanford, MT
Article from Judith Basin County Press, August 31, 1933

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Article Text

New Bank Receiver Appointed for First National of Stanford announced last week that Dr. Sullivan of Sweet Grass will ceed R. Miller as receiver of the First National bank of Stanford. Dr. Sullivan was also appointed by the comptroller of the currency as receiver of the closed national banks at Roy. Grass Range, Hobson and Lewistown, succeeding Mr. Miller in all these places. He will have beadquarters Lewistown. Dr. Sullivan is stranger in this section. but understood an expert accountant and an ex-banker.