11196. First National Bank (Baker, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
10443
Charter Number
10443
Start Date
May 1, 1924*
Location
Baker, Montana (46.367, -104.285)

Metadata

Model
gpt-5-mini
Short Digest
a993518c

Response Measures

None

Receivership Details

Depositor recovery rate
89.0%
Date receivership started
1924-05-20
Date receivership terminated
1928-10-31
OCC cause of failure
Economic conditions
Share of assets assessed as good
34.5%
Share of assets assessed as doubtful
42.8%
Share of assets assessed as worthless
22.7%

Description

The First National Bank of Baker went into the hands of a receiver in May 1924 and remained closed; subsequent articles (1926–1927) describe dividend distributions by the receiver. No contemporaneous run is reported and cause of failure is not specified in the articles.

Events (8)

1. September 9, 1913 Chartered
Source
historical_nic
2. May 1, 1924* Receivership
Newspaper Excerpt
that went into the hands of a receiver in May 1924, according to information received here. Thomas Forde, in charge of affairs of the institution, has been authorized to make the further 10 per cent disbursement, it is said. (1926 article).Tom Forde has been in town several days in connection with his duties assistant to W. M Turner, as Receiver of the First National Bank. (1926-02-25).Ridgway, Receiver of the First National Bank of Baker, whose office is at Beach, N. D. has been spending the week In Baker and vicinity looking after bank affairs. (1927-04-28). (combined excerpts).
Source
newspapers
3. May 1, 1924* Suspension
Cause Details
The articles state the bank entered receivership in May 1924 but do not specify the triggering cause (no run or specific insolvency cause given).
Newspaper Excerpt
The bank went into the hands of receivers in May, 1924.
Source
newspapers
4. May 20, 1924 Receivership
Source
historical_nic
5. February 25, 1926 Other
Newspaper Excerpt
Tom Forde has been in town several days in conection with his duties assistant to W. M Turner, as Receiver of the First National Bank. Mr. Forde that checks states have been prepared. and sent to Washington for covering another dividend of to the depositors. This will make total of paid by the receiver to depositors. Distribution of these dividend checks will be made ... as soon as been signed and returned ... (1926-02-25).
Source
newspapers
6. August 13, 1926 Other
Newspaper Excerpt
Defunct Baker Bank Returns 70 Per Cent loss by dividends ... the defunct First National Bank, Baker, that went into the hands of a receiver in May 1924 ... has been authorized to make the further 10 per cent disbursement (1926-08-13).
Source
newspapers
7. August 27, 1926 Other
Newspaper Excerpt
Checks were distributed late in July to cover a 10 percent dividend to depositors of the First National bank, Baker. The bank went into the hands of receivers in May, 1924. Since that time, and with the recent 10 percent dividend, it has paid 70 percent. (1926-08-27).
Source
newspapers
8. April 28, 1927 Other
Newspaper Excerpt
Ridgway, Receiver of the First National Bank of Baker, whose office is at Beach, N. D. has been spending the week In Baker and vicinity looking after bank affairs... No dividend is being paid this spring by the Baker bank ... prospects are with good crop ... this further dividend will be paid (1927-04-28).
Source
newspapers

Newspaper Articles (5)

Article from The Advocate, February 25, 1926

Click image to open full size in new tab

Article Text

FIRST NATIONAL TO PAY ANOTHER DIVIDEND Tom Forde has been in town several days in conection with his duties assistant to W. M Turner, as Receiver of the First National Bank. Mr. Forde that checks states have been prepared. and sent to Washington for covering another dividend of to the depositors. This will make total of paid by the receiver to depositors. Distribution of these dividend checks will be made have as soon as been signed and returned the by


Article from The Producers News, August 13, 1926

Click image to open full size in new tab

Article Text

Defunct Baker Bank Returns 70 Per Cent Loss by Dividends Miles City-With the return of signed checks to cover a 10 per cent dividend from the comptroller of currency, Washington, D. C., a total of 70 per cent will have been returned to depositors of the defunct First National Bank, Baker, that went into the hands of a receiver in May 1924, according to information received here. Thomas Forde, in charge of affairs of the institution, has been authorized to make the further 10 per cent disbursement, it is said.


Article from The Producers News, August 27, 1926

Click image to open full size in new tab

Article Text

BAKER BANK HAS PAID DEPOSITORS 70 PERCENT Checks were distributed late in July to cover a 10 percent dividend to depositors of the First National bank, Baker. The bank went into the hands of receivers in May, 1924. Since that time, and with the recent 10 percent dividend, it has paid 70 percent.


Article from The Baker Sentinel, April 14, 1927

Click image to open full size in new tab

Article Text

as W. W. Brant: Curtis M. Shreve: Midland Coal & Lumber Company, a corporation: The First National Bank of Baker National Banking corporation, and John A. Sanderson. as of Receiver of The First National Bank Baker, National Banking cor poration, Baker State Bank, State Banking corporation and C. J. Russell, as the Receiver of Baker State Bank a State Banking corporation; James Pepper; J. W. Brant; Dave Lunder and Grace Lunder, his wife; Harry Lunder, and Ella Lunder, his gold wife his alter wife. Mangold and Olga ManTo Be Sold At Sheriff's Sale, on the 16th day of April A. D. 1927 at the hour of 2:00 o'clock P. M. at the front door of the Court House of Fallon County, at Baker Montana, the following described Real Estate: North Half (N1-2) and the Southeast Quarter (SE1-4), of Section Twenty nine (29), and the West Half W1-2) and the North Half (N1-2) of the North-east (NE14). of Section Thirty two (32), all in Township Five, (5) North. Range Fifty-nine (59), East, Montana Principal Meridian; containing eight hundred eight hundred eighty acres, more or less according thereof. to the Government survey together with all and singular the tenements, hereditaments and appurtenances thereto belongng or in anyway appertaining thereto. Dated at Baker, Montana, this 21st day of March A D. 1927. C. E. By W. B. Frankland, Burrell, Deputy Sheriff. Sheriff. Al Hansen, Attorney for Plaintiff. f. M. 24 A. 14


Article from The Baker Sentinel, April 28, 1927

Click image to open full size in new tab

Article Text

RECEIVER OF FIRST NATIONAL ON JOB TWO DAYS EACH WEEK Ridgway, Receiver of the First National Bank of Baker, whose office is at Beach, N. D. has been spending the week In Baker and vicinity looking after bank affairs. Receiver Ridgway has charge of closed banks at Beach, Carlyle, Golva and Sentinel Butte, in addition to the First National Bank Baker, but plans to be in Baker on Mon'days and Tesdays of each week No dividend is being paid this spring by the Baker bank for the reason, as the Receiver states, that sufficient collections were not made warrant dividend at this time. However, the prospects are with good crop in this locality this further dividend will be paid