First National Bank - Carlyle, MT

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 10934
Charter Number: 10934
Start Date: January 7, 1927
Location: Carlyle, Montana (46.655, -104.076)

Metadata

Model: gpt-5-mini
Short Digest: 9dd5ba0d

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1927-01-07
Date receivership terminated: 1929-01-28
OCC cause of failure: Economic conditions
Share of assets assessed as good: 20.4%
Share of assets assessed as doubtful: 59.9%
Share of assets assessed as worthless: 19.7%

Description

Article (Jan 13, 1927) reports the First National Bank of Carlyle suspended business and was placed in the hands of a receiver, but efforts and outside capital are underway to reorganize and reopen the institution. Cause appears to be depleted funds/insolvency rather than a depositor run.

Events (4)

1. January 5, 1917 Chartered

Source: historical_nic

2. January 7, 1927 Receivership

Source: historical_nic

3. January 7, 1927 Receivership

Newspaper Excerpt: was placed in the hands of receiver last Friday. ... Ridgeway has been appointed receiver by the Comptrol[ler].
Source: newspapers

4. January 11, 1927 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank's funds were depleted; liabilities (~$84,000) exceeded resources and directors invoked suspension to protect depositors; reorganization planned.
Newspaper Excerpt: The bank suspended business by action of the board of directors reason depleted on January
Source: newspapers

Newspaper Articles (1)

1. January 13, 1927 The Wibaux Pioneer-Gazette Wibaux, MT

Article from The Wibaux Pioneer-Gazette, January 13, 1927

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Article Text

CLOSED. ASSURED Though expected its positors 100 cents dollar and with reorganization plans under the First National Bank of Carlyle. Wfbaux county, Montana, closed Tuesday. Efforts are being made to reopen this Bank, which was placed in the hands of receiver last Friday. The bank suspended business by action of the board of directors reason depleted on January enth and Ridgeway has been appointed receiver by the Comptrolcurrency. The last statement the bank showed deposits of approximately and the directors considertemporary suspension protect the interests of depositors. Meanwhile plan being formulawhich will givel the institution ample cash reserve and eventually bring about reorganization of the bank. Mr. H. Hammond, of Minneapolis, who had planned become officially connected with the institution prior to its closing, assisting with the reorganization plans. The former officers president; vice president and Feragen, cashier. Its president. Glenn Davis, speaker of the house of representatives of the Montana assembly, now Ca session. says outside capital heavily interested in the institution. capitalized at $25,000. Its liabilities are about $84,000. Davis says believe that the closing of the bank will be only come, they are working on reorganization plans which. they hope, will permit the institution to reopen short time.