10260. Farmers State Bank (Westby, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
*
Location
Westby, Montana (48.870, -104.052)

Metadata

Model
gpt-5-mini
Short Digest
b2812f516c285f12

Response Measures

None

Description

Articles (1934) describe the Farmers State Bank of Westby as having closed more than two years earlier and being in liquidation under a liquidating agent. Dividends are being paid to depositors from realized assets. No run is mentioned; the bank remains closed and is in liquidation/receivership.

Events (2)
1. * Receivership
Newspaper Excerpt
W. F. Fellows, liquidating agent for the Farmers State Bank of Westiby, received authorization from the state banking board Wednesday to pay another dividend of 10 per cent to all depositors; ... seventh dividend ... brought total realized on assets ... more than $80,000 that has been realized on the assets of the bank. W. F. Fellows, the liquidating agent, states ... he anticipates that even further dividends may be paid yet this year. (Plentywood Herald, 1934-06-28 and 1934-08-23).
Source
newspapers
2. * Suspension
Cause
Government Action
Cause Details
Bank had closed earlier and was placed in liquidation under a liquidating agent and state banking board oversight; payments of dividends authorized.
Newspaper Excerpt
This is the sixth dividend to be declared for the Westby institution since it closed its doors more than two years ago
Source
newspapers

Newspaper Articles (2)
1. June 28, 1934 Plentywood Herald Plentywood, MT
Article from Plentywood Herald, June 28, 1934

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Article Text

Westby Bank Will Pay Sixth Dividend W. F. Fellows, liquidating agent for the Farmers State Bank of Westiby, received authorization from the state banking board Wednesday to pay another dividend of 10 per cent to all depositors. This is the sixth dividend to be declared for the Westby institution since it closed its doors more than two years ago, and makes a total of 50 per cent of total deposits which have been paid. Payments to individuals on this dividend will run from a few cents to $700.

2. August 23, 1934 Plentywood Herald Plentywood, MT
Article from Plentywood Herald, August 23, 1934

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Article Text

Depositors of Westby Bank Get 7th Dividend Checks are being mailed out this week to depositors of the Farmers State Bank of Westby in payment of a ten per cent dividend. The total amount of the payment will be something over $6,000. This is the seventh dividend to be paid and brings the total to more than $36,000, which, together with $42,000 paid in prefer red claims, interest and expenses, makes an aggregate amount of more than $80,000 that has been realized on the assets of the bank. W. F. Fellows, the liquidating agent, states that individual checks will run all the way from one dollar up to $400. He anticipates that even further dividends may be paid yet this year.