First National Bank (Plentywood, MT)

View Charter #10438 on SPMC View balance sheet

Episode Information

Episode UID
1043801491
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
104380 national
Charter Number
10438
Start Date
March 27, 1924
Location
Plentywood, Montana (48.775, -104.562)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a2f6a0cbeeb123fd

Response Measures

None

Receivership Details

Depositor recovery rate
12.5%
Date receivership started
1924-03-31
Date receivership terminated
1928-11-01
OCC cause of failure
Economic conditions
Share of assets assessed as good
34.9%
Share of assets assessed as doubtful
49.9%
Share of assets assessed as worthless
15.2%

Events (4)
1. August 25, 1913 Chartered
Source
historical_nic
2. March 27, 1924 Suspension
Cause
Government Action
Cause Details
Bank closed and national bank examiner took charge; bank failed and was taken under supervision leading to suspension of operations.
Newspaper Excerpt
the First National had closed on Thursday, the National bank examiner arrived and took charge of the bank and gave it a thorough examination.
Source
newspapers
3. March 31, 1924 Receivership
Source
historical_nic
4. April 4, 1924 Receivership
Newspaper Excerpt
H. S. McGraw ... was appointed early in the week as the receiver of the First National Bank of Plentywood which failed Thursday a week ago.
Source
newspapers

Newspaper Articles (11)
1. April 4, 1924 The Producers News Plentywood, MT
Article from The Producers News, April 4, 1924

Click image to open full size in new tab

Article Text

BANK EXAMINER NOW IN CHARGE OF BANK H. S. McGraw, former Superintendent of Banks under the administration of Gov. Stewart was appointed early in the week as the receiver of the First National Bank of Plentywood which failed Thursday a week ago. Mr. McGraw is well acquainted in Plentywood, having spent several days here at the time of the failure of the Sheridna County State Bank in December 1920, before receivers were appointed for that institution. He will arrive in Plentywood tomorrow. Mr. McGraw has just returned to Montana from Washington, D. C., where he has been in the employ of the War Finance Corporation. Although a prominent democrat he received his appointment at the hands of a republican comptroller of the currency-through, no doubt the recommendation of Tem Marlow, the manager of the Helena Branch of the Federal Reserve who is is understood attends to such things in Montana. Last Saturday after the First National had closed on Thursday, the National bank examiner arrived and took charge of the bank and gave it a thorough examination.

2. October 3, 1924 The Producers News Plentywood, MT
Article from The Producers News, October 3, 1924

Click image to open full size in new tab

Article Text

SHERIFF'S SALE UNDER DECREE OF FORECLOSURE IN THE DISTRICT COURT OF THE TWENTIETH JUDICIAL DISTRICT OF THE STATE OF MONTANA, IN AND FOR THE COUNTY OF SHERIDAN. NATIONAL LIFE INSURANCE COMPANY of the UNITED STATES of AMERICA, a corporation, Plaintiff, vs. GILBERT E. BURDG, a single man; THE FIRST NATIONAL BANK of PLENTYWOOD, MONTANA, a corporation, and H. S. MAGRAW, RECEIVER thereof, and SHERIDAN COUNTY, MONTANA, a municipal corporation, Defendants. TO BE SOLD AT SHERIFF'S SALE on the 4th day of October, 1924, at the hour of Two (2) o'clock P. M. of said day, at the front door of the county court house at Plentywood, Montana, the following described real estate, situate in the County of Sheridan, State of Montana, as follows, to-wit: Lots numbered 5 and 12 and west half of southwest quarter (W½SW) of Section four (4), and lots numbered 8 and 9, and east half of southeast quarter (E½SE) of Section five (5), Township thirty-seven (37) North, Range fifty-five (55) East, Montana Meridian, containing 320 acres, more or less, according to the Government survey thereof, together with the tenements, hereditaments and appurtenances thereunto belonging or in anywise appertaining. Dated this 10th day of September, 1924. RODNEY SALISBURY Sheriff. HOWARD M. LEWIS & JAMES G. WAGNER, Attorneys for the Plaintiff, 23-t4 Plentywood. Montana

3. December 5, 1924 The Producers News Plentywood, MT
Article from The Producers News, December 5, 1924

Click image to open full size in new tab

Article Text

R. H. PATTERSON, Plantiff, va. HENRY CHAS. LOEHR, and LOVINA H. LOEHR, his wife; SHERIDAN COUNTY, MONTANA, a Body Politic; THE FIRST NATIONAL BANK OF PLENTYWOOD, MONTANA, corporation, and H. S. MAGRAW, Receiver of The First National Bank of Plentywood a corporation. Defendants. TO BE SOLD AT SHERIFF'S SALE, to the highest bidder for cash at the front door of the court house in the town of Plentywood, Sheridan County, Montana, on the 27th day of December, A. D. 1924, at the hour of 2:00 o'clock in the afternoon of said day, the following described real estate, to-wit: The East Half (E½) of Section Fourteen (14) in Township Thirty-six (Twp. 36) North of Range (Rge. 58) East of the Montana, Sheridan County. Montana,together with all and singular the tenements, hereditamente and appurtenances thereunto belonging, or in anywise appertaining. Dated this 4th day of December, A. D. 1924. RODNEY SALISBURY, Sheriff of Sheridan County, Mont. ONSTAD & GREER, Attorneys for the Plaintiff, Plentywood, Montana. 35-4t

4. March 27, 1925 The Producers News Plentywood, MT
Article from The Producers News, March 27, 1925

Click image to open full size in new tab

Article Text

JOSEPH J. BUCHL, Plaintiff, VS. ABRAM S. MALCOLM and SARAH A. MALCOLM, his wifer THE FIRST NATIONAL BANK OF PLENTYWOOD, MONTΑΝΑ, a corporation, and H. S. McGRAW as Receiver of The First National Bank of Plentywood, Defendants. To be sold at Sheriff's Sale on the 18th day of April, A. D. 1925, at 2 o'clock P. M. of said day at the front door of the County Court House in the town of Plentywood, Sheridan County, State of Montana, to. the highest and best bidder for cash in hand, the following described real property, situated in Sheridan County, Mont., to-wit: The Southeast Quarter (SE¼) of Section Twenty- four (24) and The Northeast quarter of the Northeast Quarter (NE¼ NE¼) of Section numbered Twenty- five (25) in Township Thirty-five North (35) N. Range Fifty-four E. M. M. and the lots numbered three and four (3 & 4) Section numbered Nineteen (19) and Lot Numbered One (1) of Section Thirty (30), Township Thirty-five (35) North of Range Fifty-five (55) Е. М. М. Dated at Plentywood, Montana, this 25th day of March, A. D. 1925. 51-t4 RODNEY SALISBURY, Sheriff of Sheridan County, Mont.

5. April 10, 1925 The Producers News Plentywood, MT
Article from The Producers News, April 10, 1925

Click image to open full size in new tab

Article Text

EDWARD F. GUENTHER, also known as FRANK E. GUENTHER and FRANK E. GUNTHER, MAUDE ELLA GUENTHER, also Known as MAUDE GUENTHER, SHERIDAN COUNTY, MONTANA, a body politic and corporate, ALFRED J. JENSEN also known as Alfred John Jensen, BERNICE JENSEN, THE FIRST NATIONAL BANK OF PLENTYWOOD, a corporation, also known as First National Bank of Plentywood, Montana, a corporation, ANDREW HENNING, MRS. ANDREW HENNING, ADOLPH STEPHAN, MRS. ADOLPH STEPHAN, H. S. MAGRAW, Receiver of The First National Bank of Plentywood, a corporation, also known as First National Bank of Plentywood, Montana, a corporation, ALBERT SPOKLIE, MRS. ALBERT SPOKLIE, and AMERICAN SURETY COMPANY, OF NEW YORK, a corporation, Defendants. The State of Montana to the above-named Defendants: You are hereby summoned to answer the complaint in this action which is filed in the office of the Clerk of this Court, a copy of which is herewith served upon you, and to file your answer and serve a copy thereof upon the Plaintiff's attorneys within twenty days after the service of this summons, exclusive of the day of service; and in case of your failure to appear or answer, judgment will be taken against you by default for the relief demanded in the complaint. This is an action to foreclose a mortgage of: East half of the Northeast quarter (E½ NE¼) Section twenty-five, Township thirty-four, Range fifty-seven; Northwest quarter, West half of the Northeast quarter, Section thirty, Township thirty-four, Range fifty eight, East of the Montana Meridian, Montana, containing 320 acres, more or less, according to the United States Government survey thereof, together with all the hereditaments and appurtenances thereunto belonging or in anywise appertaining; given by the said defendants Guenther to plaintiff, on January 10, 1917, and recorded in the office of the County Clerk of Sheridan County, Montana, in Book 133 of Mortgages, on pages 210-211-212. Judgment is asked against the defendants Edward F. Guenther and Maude Ella Guenther, for $2317.88, with interest thereon at ten per cent per annum from November 28, 1924; $250.00 attorneys' fees, $35.00 paid for abstract and plaintiff's costs; against all the defendants foreclosing the mortgage and declaring the rights, titles, claims, interests or liens of the defendants or any of them, in, to, or upon the premises subject to the mortgage and to any decree herein and barring and foreclosing the defendants thereof, including equity of redemption; against the said defendants Guenther for the deficiency, if any, remaining after sale; and against all defendants for such relief as the court may deem equitable. Witness my hand and the seal of said Court this 2nd day of January, 1925. (Court Seal) C. B. PETERSON, Clerk HURLY & KLINE, Attorneys for Plaintiff

6. May 8, 1925 The Producers News Plentywood, MT
Article from The Producers News, May 8, 1925

Click image to open full size in new tab

Article Text

LAWRENCE LANGER, Plaintiff, versus FREDERICK A. WESTPHAL; OUT- LOOK LUMBER COMPANY, a corporation; THE FIRST NA- TIONAL BANK OF PLENTY- WOOD, a corporation; H. A. STREETER, as Receiver of the FIRST NATIONAL BANK OF PLENTYWOOD, a corporation, De- fendants. THE STATE OF MONTANA SENDS GREETINGS TO THE ABOVE NAMED DEFENDANTS AND TO EACH OF THEM: You are hereby summoned to answer the complaint in this action which is filed in the office of the Clerk of this Court, a copy of which is herewith served upon one of you in the County wherein any of you reside, and to file your answer and serve a copy thereof upon the plaintiff's attorney within twenty days after service of this Summons, exclusive of the day of service; and in case of your failure to appear to answer, judgment will be taken aaginst you by default, and for the relief demanded in the complaint. This is an action for the foreclosure of a certain real estate mortgage dated December 1, 1919 made, executed and delivered by the defendant Frederick A. Westphal to McKee-Langer Company and thereafter duly assigned to plaintiff, and recorded in the office of the Clerk and Recorder of Sheridan County, Montana, December 6, 1919 in Book 210 on page 306-7 thereof and also to foreclose the equity of redemption of each and all the defendants herein, in and to the following described real property, situated in Sheridan County, Montana, to-wit: The West half (W½) of Section Thirty (30) in Township Thirty-seven (37) North of Range

7. May 22, 1925 The Producers News Plentywood, MT
Article from The Producers News, May 22, 1925

Click image to open full size in new tab

Article Text

LAWRENCE LANGER, Plaintiff, versus FREDERICK A. WESTPHAL; OUTLOOK LUMBER COMPANY, a corporation; THE FIRST NATIONAL BANK OF PLENTYWOOD, a corporation; H. A. STREETER, as Receiver of the FIRST NATIONAL BANK OF PLENTYWOOD, a corporation, Defendants. THE STATE OF MONTANA SENDS GREETINGS TO THE ABOVE NAMED DEFENDANTS AND TO EACH OF THEM: You are hereby summoned to answer the complaint in this action which is filed in the office of the Clerk of this Court, a copy of which is herewith served upon one of you in the County wherein any of you reside, and to file your answer and serve a copy thereof upon the plaintiff's attorney within twenty days after service of this Summons, exclusive of the day of service; and in case of your failure to appear to answer, judgment will be taken against you by default, and for the relief demanded in the complaint. This is an action for the foreclosure of a certain real estate mortgage, dated December 1, 1919 made, executed and delivered by the defendant, Frederick A. Westphal to McKee-Langer Company and thereafter duly assigned to plaintiff, and recorded in the office of the Clerk and Recorder of Sheridan County, Montana, December 6, 1919 in Book 210 on page 306-7 thereof and also to foreclose the equity of redemption of each and all the defendants herein, in and to the following described real property, situated in Sheridan County, Mon-

8. June 12, 1925 The Producers News Plentywood, MT
Article from The Producers News, June 12, 1925

Click image to open full size in new tab

Article Text

# Open Forum ON DEFUNCT BANKS AND BANKERS Editor, Producers News: When the local banks went bump, failed and closed their doors, the losses to the depositors were enormous, amounting to catastrophies in many cases as widows, orphans, in-valids and infirm cripples were among the victims. When a person deposits his or her savings, it is evidently done for a reason for safekeeping, to keep it intact. In this case it is still in-tact and always will be. You will be more successful in squeezing blood from a turnip than squeezing out a penny from those institutions, of your savings. When you intrusted your funds into the hands of those bankers and they in turn squandered your money by foolish investments and loose business methods, it looks like premeditated swindling and nothing short of highway robbery. You are only missing the thrill of holding up your hands to a deadly threat-d the results are the same. We take off our hat in favor of the highwaymen for being the most decent gentlemen of those two professionals in robbery, the latter usually don't tackle widows and cripples which has been meat for the local bank wreckers who took all the advantage of our loose banking laws. What could not be found in the statute books was supplied by a simpleton of a judge who had a heart for bank wreckers and an aversion for the depositors who once made him district judge. Instead of punishing and imposing the law upon those bank crooks, he rewarded their perfidy by appointing them or some of them, Receivers, with a compensation of $200.00 per month, which was very consistent after the death and funeral of mother justice, but still remains in many a heart a brazen deed to allow them to feast on the corpse of the defunct institutions they wrecked and defrauded their creditors. Can you beat it? But such is justice in our commonwealth. Some of them have been feeding on the corpse going on two years, making a living from their own failure which is what we would call the height of success in skullduggery and should not be tolerated. After the banks closed, especially the State bank, we heard much of its perforated bunk that the depositors would not lose anything: the bank's business was in fine shape and we would receive dollar for dollar of our money. If that was the case, what in Sam Hill did they close the doors for. A person or business institution is solvent as long as they can pay 100 per cent of its debts. You only go into bankruptcy when you get more debts than equity. Now, if that said had been true, why put a feeder on the corpse. Oh, I assume we will get it in the sweet by and by, where there is no use for money or we may meet them on the beautiful shores "Doubtful!" By that time their master, the Devil' will have taken his dues, and kicked them into oblivion to pay the penalty for defrauding widows and a tottering old man on crutches. We have known these birds—these bank crooks—for a long time. Some years ago, whenever we happened in-to town and met them face to face, they aiways handed us a packet of advice on what us boob farmers ought to go into. There was a gold mine for us farmers not buried very deep Those farmers could see it protruding right on the surface of the ground. So they got tired giving fool farmers advise and belted their legs and girded their loins and took to the field with the depositors money and invested it for themselves. But the maiden of success did not smile upon them. They came back with drawn haggard farces. Lo and behold boobs, they had eventually shown us that they could not farm and later that they could not run a bank. One of them has been a high officer of the Plentywood School System and has shown us that it has been run on the same plan of his farming and banking. Well, we have known these birds. We saw them in the height of their glory with oiled hair, powdered face, palm beach suits, their feet upon the slab of a marble desk, with drawn shades to protect them against the burning sun, or we saw them in the winter if they ventured outside to the corner, clad in a eight hundred dollar fur coat. They built themselves palaces or castles and lived in luxury and style while us poor homesteaders are still lingering in cramped quarters, in smoky homestead shacks. Where did they get the money, as they had nothing when they came here? The answer is plain: Depositors. We have also seen some of them dressed in a mantle of sheepskin lately, a historical, long herding stave in his hands, sitting upon the summit of some bare peak cogitating how to avoid giving an account to a defrauded widow and hiding a guilty conscience from an offended God and willing helper to cause the pain in the Northwest. FRED LUNDBERG, Unorganized Farmer

9. July 10, 1925 The Producers News Plentywood, MT
Article from The Producers News, July 10, 1925

Click image to open full size in new tab

Article Text

LAWRENCE LANGER, Plaintiff, versus C. W. WESTPHAL, administrator of the estate of Amos. Westphal, deceased; CLARA WESTPHAL; OUTLOOK LUMBER COMPANY, a corporation; THE FIRST NATIONAL BANK OF PLENTYWOOD, MONTANA, a corporation, and H. A. STREETER as Receiver of the First National Bank of Plentywood, Defendants.

10. July 31, 1925 The Producers News Plentywood, MT
Article from The Producers News, July 31, 1925

Click image to open full size in new tab

Article Text

E. J. LANDER & CO., a corporation, vs. Plaintiff, EDWARD F. GUENTHER, also known as Frank E. Guenther and Frank Guenther, MAUDE ELLA GUENTHER also known as Maude Guenther, SHERIDAN COUNTY, MONTANA, a body politic and corporate, ALFRED J. JENSEN also known as Alfred John Jensen, BERNICE JENSEN, THE FIRST NATIONAL BANK OF PLENTYWOOD, a corporation, also known as First National Bank of Plentywood, Montana, a corporation, ANDREW HENING, MRS. ANDREW HENING, ADOLPH STEPHAN, MRS. ADOLPH STEPHAN, H. S. MAGRAW Receiver of the First National Bank of Plentywood, a corporation, also known as First National Bank of Plentywood, Montana, a corporation, ALBERT SPOKLIE, MRS. ALBERT SPOKLIE, and AMERICAN SURETY COMPANY OF NEW YORK, a corporation, Defendants. To be sold at sheriff's sale at the front door of the court house in Plentywood, Montana, on the 15th day of August, 1925, at the hour of two o'clock P. M., the following described real property: East half of the Northeast quarter (E½NE¼) Section twenty-five (25) Township thirty-four (34) Range fifty seven (57), Northwest quarter (NW¼), West half of the Northeast quarter (W½NE¼) Section thirty (30), Township thirty-four (34), Range fifty-eight (58) East of the Montana Meridian, Montana, containing 320 acres, more or less according to the United States Government survey thereof, together with all the hereditaments and appurtenances thereunto belonging or in anywise appertaining. RODNEY SALISBURY, Sheriff. (16-t4)

11. August 7, 1925 The Producers News Plentywood, MT
Article from The Producers News, August 7, 1925

Click image to open full size in new tab

Article Text

E. J. LANDER & CO., a corporation, Plaintiff, VS. EDWARD F. GUENTHER, also known as Frank E. Guenther and Frank Guenther, MAUDE ELLA GUENTHER also known as Maude Guenther, SHERIDAN COUNTY, MONTANA, a body politic and corporate, ALFRED J. JENSEN also known as Alfred John Jensen, BERNICE JENSEN, THE FIRST NATIONAL BANK OF PLENTYWOOD, a corporation, also known as First National Bank of Plentywood, Montana, a corporation, ANDREW HENING, MRS. ANDREW HENING, ADOLPH STEPHAN, MRS. ADOLPH STEPHAN, H. S. MAGRAW Receiver of the First National Bank of Plentywood, a corporation, also known as First National Bank of Plentywood, Montana, a corporation, ALBERT SPOKLIE. MRS. ALBERT SPOKLIE, and AMERICAN SURETY COMPANY OF NEW YORK, a corporation, Defendants.