First National Bank (Charlo, MT)

Episode Information

Episode Type
Suspension โ†’ Closure
Start Date
February 20, 1924
Location
Charlo, Montana (47.439, -114.172)
Bank Type
national
Charter Number
11165

Metadata

Receivership Details

Depositor recovery rate
94.2%
Date receivership started
1924-02-20
Date receivership terminated
1928-10-31
OCC cause of failure
Economic conditions
Share of assets assessed as good
33.2%
Share of assets assessed as doubtful
63.8%
Share of assets assessed as worthless
3.1%

Notes

Multiple items reference the bank having closed and being in receiver's hands; later items report receiver succession (OCR errors present in some clippings).

Events (5)

1. April 12, 1918 Chartered
Source
historical_nic
2. February 20, 1924 Receivership
Newspaper Excerpt
stockholders at the time the bank closed, February 20, were assessed $100 per share in order to straighten out the deficits of the institution.
Source
newspapers
3. February 20, 1924 Receivership
Source
historical_nic
4. September 21, 1924 Other
Newspaper Excerpt
The First National bank of Charlo, through its receiver, James W. Swan, has filed suits against John Dahlgren and F. J. White
Source
newspapers
5. November 19, 1925 Other
Newspaper Excerpt
has been succeeded by Swan, who receiver of the First National banks Ronan and Charlo. Mr. Swan will handle the affairs of all three banks
Source
newspapers

Newspaper Articles (10)

Article from The Daily Missoulian, September 21, 1924

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Article Text

J. W. SWAN, BANK RECEIVER SUES DAHLGREN AND WHITE

The First National bank of Charlo, through its receiver, James W. Swan, has filed suits against John Dahlgren and F. J. White, as shareholders of the Charlo bank. The suits are filed separately against White and Dahlgren and are for $1,000 each, plus costs and interest.

Swan alleges that Dahlgren and White, stockholders at the time the bank closed, February 20, were assessed $100 per share in order to straighten out the deficits of the institution. They each held 10 shares. This assessment was made about May 14 and fell due June 20. The suits are to recover this assessment and costs and interest on the assessments.


Article from Belt Valley Times, November 19, 1925

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Article Text

Receiver for Three Banks Riddick, has been receiver the First National bank of Polson since closed and half ago, has resigned and has been Swan, who of the First National banks and Charlo. Mr. Swan will handle the fairs of all three banks and will assisted by Livingston.


Article from The Yellowstone, November 19, 1925

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Article Text

Receiver for Three Banks

R. has been receiver of the First National bank Polson since closed year and half has resigned and has been succeeded Swan, who receiver of the First National banks and Charlo. Mr. Swan will handle the fairs of all three banks and will assisted by Livingston.


Article from The Columbus News, November 19, 1925

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Article Text

Receiver for Three Banks

Riddick. has been receiver the First National bank Polson since closed and half has resigned and has been succeeded Swan, who receiver of the First National banks Ronan and Charlo. Mr. Swan will handle fairs all three banks and will assisted by Livingston.


Article from Jefferson Valley News, November 19, 1925

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Article Text

Receiver for Three Banks of the First National bank of Polson since closed year and half ago, has resigned and has been succeeded Swan. who receiver of the First National banks and Charlo. Mr Swan will handle the affairs of three banks and assisted by Livingston.


Article from The Kremlin Chancellor, November 20, 1925

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Article Text

Receiver for Three Banks who has been receiver the National bank Polson since closed year and half has resigned and has been succeeded by Swan, who receiver of the First National banks Ronan and Charlo. Mr. Swan will handle the fairs all three banks and will be assisted by Livingston.


Article from Plevna Herald, November 20, 1925

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Article Text

Receiver for Banks

Riddick, who has of the First National bank of Polson since closed year and half has and Swan, who receiver the First National banks Ronan and Charlo. Mr. Swan will handle the fairs of all three banks and will be assisted by Livingston.


Article from The Sumatra Record, November 20, 1925

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Article Text

Receiver for Three Banks

Riddick, been receiver of the First National bank of Polson since closed year and half ago, has resigned been succeeded who receiver of the First National banks and Charlo. Mr. Swan will handle the affairs of all three banks and will be assisted by Livingston.


Article from The Wibaux Pioneer-Gazette, November 26, 1925

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Article Text

Receiver for Three Banks Riddick

been receiver of the First National bank of Polson since closed year and half ago resigned and has been who receiver of the First National banks Ronan and Charlo. Mr. Swan will handle all three banks and will assisted by Livingston.


Article from The Powder River County Examiner, November 27, 1925

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Article Text

Receiver for Three Banks been National bank Polson since closed year and half has resigned and has been succeeded Swan. receiver First National banks and Charlo. Mr. Swan will handle fairs all three banks and will assisted Livingston.