First National Bank (Plentywood, MT)

Episode Information

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

Metadata

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%

Notes

Government-record receivership date (1924-03-31) used as authoritative; articles report the bank closed days earlier.

Events (4)

1. August 25, 1913 Chartered
Source
historical_nic
2. March 27, 1924 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed suddenly and examiner/receiver took charge, indicating insolvency or failure.
Newspaper Excerpt
the First National had closed on Thursday
Source
newspapers
3. March 31, 1924 Receivership
Newspaper Excerpt
H. S. McGraw ... was appointed ... as the receiver of the First National Bank of Plentywood which failed Thursday a week ago. Mr. McGraw will arrive in Plentywood tomorrow. 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.
Source
newspapers
4. March 31, 1924 Receivership
Source
historical_nic

Newspaper Articles (12)

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.


Article from The Producers News, April 4, 1924

Click image to open full size in new tab

Article Text

DIRECTORS OF PLENTYWOOD ST. BANK MEET TUESDAY EVENING

The directors and several of the heavy depositors of the defunct Plentywood State Bank are reported to have met quietly in the offices of that institution Tuesday evening, and to have carefully gone over the proposition to reopen that bank again since the closing of the First National Bank of Plentywood last week. It seems that since the closing of the First National that a number of the people formerly connected with the defunct Plentywood State Bank feel that there is a splendid opening in Plentywood for another bank and they feel that if now the State Bank could be opened again that it might be able to ride.

Just what plans were formulated have not been disclosed. It is however, claimed that quite a number of those interested in that institution are very jealous of the idea of allowing Riba to have a monopoly of the banking business.


Article from The Producers News, August 8, 1924

Click image to open full size in new tab

Article Text

C. A. WALTER, Plaintiff, VS JAMES ELMER SMITH. EDNA GRACE SMITH NICHOLS, form- erly EDNA GRACE SMITH, HAR- VEY NICHOLS, JOHN W. SHEL- BY, SHERIDAN COUNTY STATE BANK, a corporation, OSCAR S. GULLICKSON, as Receiver of Sheridan County State Bank, a cor- poration, LIBBY LUMBER CO., a corporation, PLENTYWOOD T. & B. CO., a corporation; THE FIRST NATIONAL BANK OF PLENTY- WOOD, a corporation; H. S. MA- GRAW, as Receiver of First Na- tional Bank of Plentywood, a cor- poration; E. G. STEELE, ST.


Article from The Producers News, March 6, 1925

Click image to open full size in new tab

Article Text

OF SHERIDAN.

JOSEPH LANGER, Plaintiff, versus MARTIN M. REINERTSON and KATE REINERTSON, his wife; THE FIRST NATIONAL BANK OF PLENTYWOOD, MONTANA, a corporation; and H. S. MAGRAW as Receiver of the said THE FIRST NATIONAL BANK OF PLEN- TYWOOD, Defendants.

To be sold at Sheriff's Sale on the 28th day of March, 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 Coun- ty, State of Montana, to the highest and best bidder for cash in hand, the following described real property, situated in Sheridan County, Mon- tana, to-wit: Southwest quarter (SW¼) of Section Twelve (12) Township Thirty-five (35) North of Range Fifty-five (55) East Montana Meridian, containing 160 acres more or less.

Dated at Plentywood, Montana, this 5th day of March, A. D. 1925. RODNEY SALISBURY, Sheriff of Sheridan County, Mont. By HUGH SALISBURY, Deputy Sheriff. 48-t4


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.


Article from The Producers News, March 27, 1925

Click image to open full size in new tab

Article Text

SEPH LANGER, Plaintiff, versus ARTIN M. REINERTSON and KATE REINERTSON, his wife; THE FIRST NATIONAL BANK OF PLENTYWOOD, MONTANA, a corporation; and H. S. MAGRAW as Receiver of the said THE FIRST NATIONAL BANK OF PLEN- TYWOOD, Defendants.

To be sold at Sheriff's Sale on the th day of March, 1925, at 2 o'clock M. of said day at the front door the County Court House in the m of Plentywood, Sheridan Coun-


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-


Article from The Producers News, July 10, 1925

Click image to open full size in new tab

Article Text

MRS. W. H. PHELPS, Plaintiff, versus JOHN REINLASODER and REGINA REINLOSODER, his wife; THE FIRST NATIONAL BANK OF PLENTYWOOD, MONTANA, a coporation; H. A. STREETER, as Receiver of The First National Bank of Plentywood, Defendants.


Article from The Producers News, July 10, 1925

Click image to open full size in new tab

Article Text

GLADYS FREUDENBERG, Plaintiff,

versus

CARL TRUMBLE, H. P. FOSTER, administrator of the estate of Dora E. Trumble, deceased; RICHARD GRAYSON, JOHN GRAYSON, Sheridan County State Bank, a corporation; OSCAR GULLICKSON, receiver for Sheridan County State Bank, a Corporation; GYDA THOMPSON, as Administratrix of the estate of A. T. THOMPSON, deceased; FIRST NATIONAL BANK OF PLENTYWOOD, a corporation; H. A. STREETER, Receiver of The First National Bank of Plentywood, a corporation; JULIA NORTON, formerly JULIA JACOBSON KEATS; PAUL BABCOCK and CLIMO R. ELLERY, Defendants.

To be sold at Sheriff's Sale on the 25th day of July, 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, Montana, to the highest and best bidder for cash in hand, the following described real property, situated in Sheridan County, Montana, to-wit:

The Northwest quarter (NW¼) of Section Five (5) and the Northeast Quarter of the Northeast Quarter (NE¼NE¼) of Section Six (6) Township Thirty-three (33) and the East half of the Southeast quarter (E½SE¼) of Section Thirty-one (31) Township Thirty-four (34) North of Range Fifty-six (56) East of the Montana Meridian, Montana. Dated at Plentywood, Montana this 1st day of July A. D. 1925.

Rodney Salisbury, Sheriff of Sheridan County, Montana. Publish July 3-10-17 & 24


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.


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)


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.