10106. First State Bank (Lambert, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
*
Location
Lambert, Montana (47.684, -104.621)

Metadata

Model
gpt-5-mini
Short Digest
d14b00215d37ed4d

Response Measures

None

Description

Articles indicate the First State Bank of Lambert had a receiver appointed (C. L. Telsinger) and the closed bank building was being looted and fixtures removed. No article describes a depositor run; the bank was closed and in receivership/being liquidated, so this matches a suspension leading to permanent closure/receivership.

Events (2)
1. * Receivership
Newspaper Excerpt
Again the First National Bank building has been looted ... The First State Bank went in this same manner ... unless the Receiver gets short on salary funds ... The First State Bank went in this same manner and has been forgotten, all but the name, now the First National which comes under the control of the Federal Government is going down the same lane.
Source
newspapers
2. * Suspension
Cause
Government Action
Cause Details
Receiver appointed for the First State Bank of Lambert; bank closed and under receivership/being liquidated.
Newspaper Excerpt
C. L. Telsinger, as Receiver the First State Bank of Lambert, a corportion
Source
newspapers

Newspaper Articles (2)
1. April 23, 1926 The Sidney Herald Sidney, MT
Article from The Sidney Herald, April 23, 1926

Click image to open full size in new tab

Article Text

NOTICE OF SHERIFF'S SALE In the District Court of the Seventh Judicial District of the State of Montana Richland in and for the County of Farmers State Bank of Kenyon Minnesota, a corporation, Plaintiff. William M. Hammes and Alice M. Hammes, his wife, First State Bank of Lambert, corporation, C. L. Telsinger. as Receiver the First State Bank of Lambert, a corportion, Barnes Brothers porated, a cor poration, Edmund Backe, O. H. fendants. Kronkright and P. L. McCrea, DeTo be sold by the Sheriff of Richland County, Montana, on the 24th day of April, A. D. 1936, at clock P. M. of said day to the highest and best bidder for cash, in front of the front door of the Court House in Richland, County, in Sidney, Montana, all the right, title and interest of the above named defendants. and each of them, in and to the following described real estate, situated in Richland County, Montana, to-wit: The North half of the Northwest quarter of the Northwest quarter (SW NW4 Northwest quarter of the Southwest quarter (NW %SW% South one half of the Southwest quarter (S½SW¹/ South one half of the Southeast quarter (S%SE% of Section Twenty (28), Township (23) North, Range Fifty-four (54) East, containing 320 acres more or less, according to the Government survey thereof. Together with all and singular the tenements, hereditaments and ap. purtenances thereunto belonging Dated this 25th day of March A. D. 1926. GEO T. O'BRIEN, Sheriff of Richland County, Mon- tana. By W. E. PAYNE, Deputy Sheriff. C. E. Collett, Attorney for plaintiff, Sidney, Montana. 3-4t.

2. February 10, 1928 The Producers News Plentywood, MT
Article from The Producers News, February 10, 1928

Click image to open full size in new tab

Article Text

(From Richland County Leader) Lambert.-Again the First National Bank building has been looted and two truck loads of fixtures have been courthouse. hauled to Sidney to be used in the new This is about all that can be removed unless the Receiver gets short on salary funds and tears up the floor and sells it or takes down the walls and sells the brick, which quite likely will happen if time is given. The First State Bank went in this same manner and has been forgotten, ali but the name, now the First National which comes under the control of the Federal Government is going down the same lane. Oh, yes, the stockholders paid in their hundred per cent assessment, the law says they must, and the banks each paid a small dividend. But where has the balance gone? The law does not say that a Receiver cannot rape a closed bank by prolonging its final settlement, oh no. He can keep on drawing a big salary just so long as there is anything left to draw one with and when the assets are gone, he rubs his soft fat hands together and tell the Judge that he has done all he can and that there is nothing more to settle. The Honorable Judge pats him on the back and says, "well done my good and faithful servant, lets go get a drink." We know of a bank in Billings that was closed more than fifteen years ago and the Receiver has kept it going from that time until now without winding up the business. This was one of the largest banks in that city and has proven a fine thing for this man as he now owns nearly all of the bank assets and is considered by the Banking Department one of their crack Receivers. This fellow is fat and sleek and puffs when he walks. And when the son-of-a-louse dies he will be stuck SO deep in Hell that he won't even be able to see the light of the fires. Any community that suffers a bank failure would save themselves a lot of worry and receive some satisfaction if they would blow the establishment into a million pieces and not submit placidly to seeing some bird with a "whorl" on his index finger step in and get away with the horns, hide and tallow. If you think we are spreading it a little too thick, just ask the stockholders of closed banks, ask the depositors or ask the people of the community. They can tell it to you."