11211. Bole State Bank (Bole, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 1, 1930
Location
Bole, Montana (47.711, -112.011)

Metadata

Model
gpt-5-mini
Short Digest
29c00285

Response Measures

None

Description

Articles (Apr 1–2, 1930) state the Bole State Bank 'has suspended operations' and the bank is referred to as 'former' in a suit alleging defaulted large certificates of deposit. No run is mentioned and no reopening is reported; the suspension appears tied to bank-specific insolvency/defaults.

Events (1)

1. April 1, 1930 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suit alleges default on large certificates of deposit (multiple $11,000 and $13,000 CDs), indicating insolvency/failed obligations leading to suspension of operations.
Newspaper Excerpt
The bank has suspended operations.
Source
newspapers

Newspaper Articles (2)

Article from Great Falls Tribune, April 1, 1930

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Article Text

Former Bole Bank Is Named in Suit Action involving in excess of $23,000 was Monday instituted in district court by A. J. Fousek, trustee, against the Bole State bank and P. J. Thomas, its cashier. The bank has suspended operations. The Bole bank, It is alleged, on April 1, 1921, executed an $11,000 certificate of deposit to the American Bank and Trust company and defaulted in payment of the entire amount. It is further alleged that the bank on Nov. 19, 1920. executed $13,000 certificate of deposit in favor of the American bank and that a third certificate of deposit for $11,000 was issued on March 15, 1921. All but $384 of the latter deposit was paid. Fousek asks a judgment for $22,983 principal, interest and attorney fees.


Article from The Independent-Record, April 2, 1930

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Article Text

Former Bole Bank Is Named in Suit Great April excess of instituted district court Monday trustee. against Bole State bank and its cashier. The bank Thomas. suspended operations. The Bole bank. alleged. an certificate of to the Bank and Trust company and defaulted payment of the entire further alleged amount. that the bank on Nov. 1920. executed certificate deposit favor of the American bank and that third certificate deposit for was issued on March 15. 1921.