First National Bank (Big Sandy, MT)

View Charter #11004 on SPMC View balance sheet

Episode Information

Episode UID
1100401483
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
110040 national
Charter Number
11004
Start Date
July 5, 1923
Location
Big Sandy, Montana (48.179, -110.112)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
3e618079ceca61d9

Response Measures

None

Receivership Details

Depositor recovery rate
9.0%
Date receivership started
1923-07-07
Date receivership terminated
1927-03-31
OCC cause of failure
Economic conditions
Share of assets assessed as good
18.1%
Share of assets assessed as doubtful
34.5%
Share of assets assessed as worthless
47.3%

Description

No contemporaneous report of a depositor run; bank failed to open by closing order and was placed in receivership.

Events (5)
1. May 25, 1917 Chartered
Source
historical_nic
2. July 5, 1923 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closing order caused bank to fail to open on July 5; banks were owned by Davidson-Hegge interests suggesting institutional failure.
Newspaper Excerpt
The First National Bank at Big Sandy ... failed to open Thursday morning, July 5.
Source
newspapers
3. July 7, 1923 Receivership
Source
historical_nic
4. August 10, 1923 Receivership
Newspaper Excerpt
Arthur J. Merrill, national bank receiver, First National and Farmers' National of Big Sandy.
Source
newspapers
5. September 25, 1924 Other
Newspaper Excerpt
THE FIRST NATIONAL BANK of BIG SANDY ... ARTHUR J. MERRILL, Receiver of The First National Bank of Big Sandy; (alias summons) involved in foreclosure action.
Source
newspapers

Newspaper Articles (3)
1. July 12, 1923 Hysham Echo Hysham, MT
Article from Hysham Echo, July 12, 1923

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Article Text

THREE CHOTEAU COUNTY BANKS CLOSE THURSDAY The First National Bank at Big Sandy, the Carter State bank of Fort Benton, and the Loma State bank, all Choteau county institutions, failed to open Thursday morning, July 5. These banks were principally owned by Davidson-Hegge interests. Big Sandy residents are said to have threatened Cashier Fred Miller, of the national bank there with bodily injury, but the threatened row was averted when the Big Sandy men learned that the closing order covered all three banks.

2. August 10, 1923 The Great Falls Leader Great Falls, MT
Article from The Great Falls Leader, August 10, 1923

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Article Text

BANKERS FROM ALL MONTANA REGISTER AS SESSION OPENS Headquarters for the bankers were established in the lobby of the Rainbow hotel where handsome badges with the programs for the convention were handed to each delegate as he registered. Those who had registered with their banking connections and their home town up to 2 p. m. today were as follows: Anaconda—M. A. Fulmor, cashier Anaconda National bank, Mrs. M. A. Fulmor. Big Sandy—Arthur J. Merrill, national bank receiver, First National and Farmers' National of Big Sandy. Belgrade—E. L. Heidel, cashier Belgrade State bank, Mrs. E. L. Heidel. Belfry—J. D. Higham, cashier Bank of Belfry. Billings—Elroy H. Westbrook, Midland National bank. Brady—F. F. Lewis, president First National bank of Brady. Butte—J. L. Carroll, director Miners' Saving bank; J. E. Woodard, president Metals Bank & Trust company; H. O. Malsburg, director U. S. Building & Loan association. Chicago, Ill.—W. M. Taylor, representing Continental & Commercial National bank; Abner J. Stilwell, assistant cashier Continental & Commercial National bank; Harvey Pickrel, representing First National bank of Chicago; Miss Virginia Pickrel. Conrad—Wm. A. Bell, vice president Pondera Valley State bank, J. F. Kumpf, vice president Farmers' State bank. Culbertson—H. C. Skarie, cashier State bank of Culbertson. Denver, Colo.—Fred P. Marvin, Mountain States bank. Dillon—Frank Hazelbaker, director First National bank. Dixon—H C. Jackson, cashier Farmers' and Merchants' State bank. Fort Benton—F. E. Stranahan, president Stockmens' National bank. Glendive—J. P. Schaeffer, vice president Glendive State bank; R. E. Herrick, vice president Exchange State bank. Greybull, Wyo.—C. J. Williams, president First National bank. Havre—F T. Merrill, cashier Montana National bank; C. F. Morris, vice president Security State bank. Hamilton — C. H. Raymond, cashier Ravalli County bank. Helena—N. J. Gould, vice president and cashier American National bank; Sarah Virginia Gould; T. A. Marlow, president National bank of Montana; T. B. Weir, attorney Federal Reserve bank, Helena branch; T. O. Hammond, vice president and cashier Montana Trust & Savings bank; Mrs. T. O. Hammond; H. L. Hart, state manager National Surety company; C. A. Drummond, assistant manager Fidelity & Deposit company; L. A. Jacobsen. Kalispell—Theo. Torbenson, president Bank of Commerce; Mrs. Theo Torbenson. Lewistown—F. R. Cunningham, cashier Empire and State bank, Samuel Phillips, president Empire and State bank. Livingston—C. E. Bechtel, district manager Mutual Life Insurance company of New York. Medicine Lake—S. C. Faaborg, cashier Security State bank. Missoula—J. M. Keith, president Missoula Trust & Savings bank; E. W. Pearce, Missoulian Publishing company; C. A. Colby, Missoulian Publishing company. Minneapolis—C. R. Clarke, Federal Reserve bank; F. Lewis McCullough, Northwestern National bank; A. A. Gad, First National bank of Minneapolis; N. C. Kapelovitz, Minnesota Loan & Trust company; R. S. Hume, assistant cashier Northwestern National bank; A. S.

3. October 16, 1924 The Hill County Sunday Journal Havre, MT
Article from The Hill County Sunday Journal, October 16, 1924

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Article Text

TUESDAY OCTOBER 21st The following described property will be sold at Auction Sale on October 21 at the William Merrill place 10 miles south of Havre. 10 MILCH COWS, 4 to 9 years old 9 SPRING CALVES 7 LONG YEARLINGS feeders, and good ones 9 GOOD HEAVY WORK HORSES 4 SET of WORK HARNESS DEERING BINDER P. & O. SULKY PLOW 7 FOOT DISC MANDT WAGON and box MOLINE 8 FOOT DRILL MOLINE GANG PLOW MOLINE 4 SECTION DRAG WIDE TRACK WAGON Some Tools SALE COMMENCES 1 P. M. SHARP TERMS: CASH FREE LUNCH at NOON S. E. Paul Plentywood, Montana. Attorney for Plaintiff First Publication September 18, 1924 Last Publication October 9, 1924 ALIAS SUMMONS In the District Court of the Eighteenth Judicial District of the State of Montana, in and for the County of Hill. C. E. DRAKE, Plaintiff vs. ANNA R. HALL; CLINTON B. HALL; HENNEPIN MORTGAGE COMPANY, a corporation; FARMERS STATE BANK of GILDFORD, a corporation; GILDFORD STATE BANK, a corporation; C. W. ERSKINE, Receiver of Gildford State Bank; THE FIRST NATIONAL BANK of BIG SANDY, a corporation; ARTHUR J. MERRILL, Receiver of The First National Bank of Big Sandy; HILL COUNTY, a municipal corporation; JESSE F. GRIMES; VERNA F. GRIMES; and P. O. BRENDE; 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 each 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 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. That the nature and object of the above entitled action is to foreclose and determine the lien of a certain mortgage on real estate, dated April 22d, 1918, made, executed, acknowledged and delivered by said defendants Anna R. Hall and Clinton B. Hall, as mortgagors, to Hennepin Mortgage Company, a corporation, as mortgagee, and thereafter, by mesne written assignments, duly assigned to plaintiff herein; which said mortgage was duly recorded in the office of the County Clerk and Recorder of Hill County, Montana, on May 2d, 1918, at 3:00 o'clock P. M., in Book 17 of Mortgages, on page 507; and also to foreclose the Equity of Redemption of said defendants above named, and each of them, and all persons claiming any interest in or lien upon said real estate through or from them, or either of them, in and to the following described premises: Northeast Quarter (NE¼) of Section Four (4), in Township Thirty (30) North, of Range Eleven (11), East Montana Meridian, Hill County, Montana, containing 160 acres, more or less, according to the Government Survey thereof; together with all the hereditaments and appurtenances thereunto belonging or in anywise appertaining. Witness my hand and the Seal of said Court this 25th day of September, 1924. (Court Seal) GEO. W. GLASS Clerk McKenzie & McKenzie Attorneys for Plaintiff Great Falls, Montana. First Publication September 25, 1924 Last Publication October 16, 1924 ALIAS SUMMONS In the District Court of the Eighteenth Judicial District of the State of Montana, in and for the County of Hill. SECURITY TRUST COMPANY of FREEPORT, a corporation, Plaintiff vs. HENRY JOHN DUBY, a single man; MARY J. BUXTON, a widow; and CLARENCE BUXTON, 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 each 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 the service of this