11274. Citizens State Bank (Culbertson, MT)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
January 14, 1924
Location
Culbertson, Montana (48.144, -104.517)

Metadata

Model
gpt-5-mini
Short Digest
575baad3

Response Measures

Full suspension, Books examined

Other: Receivership appointed (H. C. Skarie) and consolidation of receiverships with Security State Bank and State Bank; sale/foreclosure actions followed.

Description

Newspapers report heavy withdrawals in winter 1923-24 forcing the Citizens State Bank of Culbertson to close (Jan. 14–16, 1924). A receiver (H. C. Skarie) was later appointed and the bank was liquidated; multiple court notices through 1925–1927 show receivership and sale of assets. No evidence the bank reopened.

Events (3)
1. January 14, 1924 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank failed to open due to ongoing withdrawals and insufficient liquidity; suspension preceded receiver appointment and liquidation.
Newspaper Excerpt
the State Bank of Culbertson did not open its doors on Monday, January 14th...the Citizens State Bank did not open for business and as a result, Culbertson is left without banking facilities.
Source
newspapers
2. January 16, 1924 Run
Cause
Bank Specific Adverse Info
Cause Details
Constant withdrawals through fall and winter and a heavy run on the bank drained funds, forcing closure.
Measures
State Banking Department representative to make examination; plans for reorganization or liquidation to be carried out.
Newspaper Excerpt
Owing to a heavy run on the bank, the Citizens State Bank of Culbertson was forced to close its doors on January 16, 1924.
Source
newspapers
3. April 29, 1925 Receivership
Newspaper Excerpt
H. C. Skarie, as Receiver of The Citizens State Bank of Culbertson, Montana, a corporation, Plaintiff,... Dated at Wolf Point, Montana, April 29th, 1925.
Source
newspapers

Newspaper Articles (11)
1. January 25, 1924 The Producers News Plentywood, MT
Article from The Producers News, January 25, 1924

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CLOSES SECOND TIME WITHIN TWO YEARS Culbertson, Jan. -Owing to a NORTHRUP PLEADS constant withdrawal of funds during the fall and winter the State Bank of Culbertson did not open its doors GUILTY TO THEFT on Monday, January 14th. A representative of the State Banking Department is making a thorough exMedicine Lake Man Appears Before amination and plans for reorganizaJudge Comer and Receives Senttion or liquidation will be carried out ence of From 3 to 6 Years. as soon as the examination is completed. John Northrup, who was placed in This is the second time within the jail some time ago on the charge of past two year that the above bank being implicated in the stealing of has closed its doors. automobiles at Medicine Lake, plead On the day following the closing guilty before Judge Camer last Wedof the State Bank. the Citizens State nesday and was sentenced to three to Bank did not open for business and six years in the state penitentiary at as a result, Culbertson is left without Deer Lodge. banking facilities. Business proceeds Due to the efforts of Sheriff Salisas usual but business is very much bury the auto thieves of Sheridan inconvenienced by the sudden stopcounty are being apprehended one page of the general flow of currency. by one and it is reported that there Owing to a heavy run on the bank, will be more arrests follow, until the the Citizens State Bank of Culbertson gang of auto thieves which have been was forced to close its doors on Januoperating in this county for the past ary 16, 1924. year have been cleaned up. The representative of the State Banking Department will take charge and the affairs of the bank gone OVJ.J. CARROL HOME er thoroughly and such plans for reorganization or liquidation to the depositors will be arranged on the comBURNS FRIDAY pletion of his report. Culbertson has been hard hit by this sudden failure of the two banks Five Room House of C. C. Carrol, of the town and many people are Situated 11 Miles Southwest of wondering how they are going to Plentywood Completely Destroyed meet their obligations for the rest of By Fire-Loss Estimated at About the winter. Business has received a $2,000.00. hard blow as a great amount of the cash money of the town was carried Last Friday morning, while Mr. in the banks and is new tied up or Carrols was doing chores in the barn, sunk in those institutions. None of his house, located on the farm, 11 the depositors are able to see the miles southwest of Plentywood caught great Republican cry of four years fire from what is supposed to have ago, "Back to Normalcy." been an over-heated stove and burned

2. April 30, 1925 The Wolf Point Herald Wolf Point, MT
Article from The Wolf Point Herald, April 30, 1925

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# LEGAL NOTICES # NOTICE OF SHERIFF'S SALE In the District Court of the Twen- tieth Judicial District of the State of Montana, in and for the County of Roosevelt. H. C. Skarie, as Receiver of The Citizens State Bank of Culbertson, Montana, a corporation, Plaintiff, vs. Borge C. Christensen, Guardian of the Estate and Person of Jennie Ella Georgia Christensen, a minor, Defendant. To be sold at Sheriff's Sale on the 23rd day of May, A. D. 1925, at Two o'clock P. M., of said day, in front of the Roosevelt County Court House in the City of Wolf Point, Roosevelt County, Montana, the following des- cribed lands and premises situated in Roosevelt County, Montana, and particularly described as follows, to- wit: Northwest Quarter (NW¼) of Section Twenty-four (24) in Town- ship Twenty-eight (28) North of Range Fifty-five (55) East of the Montana Meridian, containing 160 acres, more or less, according to the Government survey thereof, together with all tenements, hereditaments and appurtances, or so much thereof as may be necessary to satisfy a judgment in the above entitled ac- tion, together with interest and costs of sale. Dated at Wolf Point, Montana, April 29th, 1925. J. H. ANDERSON, Sheriff of Roosevelt County, Mont. By Chas. Council, Under Sheriff. J. E. Rucker, Culbertson, Montana, Attorney for Plaintiff. 11-4t

3. December 17, 1925 The Wolf Point Herald Wolf Point, MT
Article from The Wolf Point Herald, December 17, 1925

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LAW AND MOTION DAY WEDNESDAY TWO DIVORCES ARE GRANTED RECEIVER FOR SECURITY BANK IS APPOINTED At the law and motion day proceedings presided over by Judge S. E. Paul of Plentywood, Wednesday, a divorce was granted in the case of Jesse Laroque vs. Albert Laroque, on the grounds of cruelty. The couple had one child which was given to the custody of its father. In the case of William Matson VS. Evlyn Matson a divorce was granted on the grounds of desertion. The court approved the findings of the county board of examiners in the insanity hearings of Mrs. Oscar Haugen and Robert Bawden. i Judge Borton was called in and asked to hear the cases of the Sebein Livestock Company vs. Rose and the Sebein Livestock Company vs. the Midwest Development Company. John Hatfield of Bainville was art o raigned for a misdemeanor. The al1 leged offense was a violation of the Volstead act. He was released on i o $500 bail furnished by friends. 1 Burglary At Froid e Art Zick of near McCabe was arI raigned on a larceny charge and rer leased on a bond of $1,000. The i complaint resulted from the theft of T harness and collars from the farm t of Edward Gobbs last Friday/ S ing. The Gobbs place is near Mcd Cabe. Elmer Zick, a brother of Art, e was arraigned before the justice of d the peace at Froid and plead guilty. r New Receiver For Security Bank n H. C. Skarie of Culbertson was apV pointed receiver of the Security t State Bank of this city in lieu of J. e B. Switzer. The purpose of this r change is to consolidate the receivership of the State Bank, Citizens State t Bank of Culbertson and the SeenrF ity Bank of this city, thereby reducC ing expenses considerably. t Facts In City-County Case a F In the case of the City of Wolf S Point vs. Roosevelt county an agreed g statement of facts was presented by S the plaintiff and defendant and the st matter is being held under advisea ment pending a filing of briefs. Both sides requested that the matter be continued until January 27, 1926, in the case of John Anderson P et al vs. Creighton and Phillips. In the matter of the adoption of Irene First Eagle briefs have been ordered to be filed in 15 days. A recess was declared until DeP cember 30. W

4. November 4, 1926 The Wolf Point Herald Wolf Point, MT
Article from The Wolf Point Herald, November 4, 1926

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SESSION OF DISTRICT COURT HELD WEDNESDAY Judge S. E. Paul convened district court Wednesday. Miss A. M. Hanson, deputy clerk of court of Sherdan county, substituted for E. S. Koser, the court stenographer, who is sick. In the damage case of Weinrich vs. Great Northern Ry., the demurrer of the defendant was overruled and 15 days allowed for filing briefs. Case of Inga Skjevland vs. Alfred Skjevland for divorce, a decree was granted and the custody of the three minor children given to the plaintiff. Minnie Davey vs. Lovell Davey, divorce, the case was heard and the court took it under advisement. Estate of J. F. Thomas. The court issued an order authorizing the sale of personal property. Estate of John Nicholson. The court issued an order authorizing the administrator to pay the outstanding claims. Security State Bank of Wolf Point. The court issued an order authorizing the receiver, H. C. Skarie, to pay a dividend of ten per cent. Citizens State Bank of Culbertson. The receiver was authorized by the court to sell certain real estate in Richland county. Estate of C. B. Hall. The court signed a decree authorizing publication of notice to creditors. Estate of Jacob Neufeld. Petition was granted for payment of a family allowance, also the sale of the wheat crop was authorized. State of Montana vs. Ferdinand Schlaps. The bill of exceptions came up for settlement, and settlement was made by the attorneys and allowed by the court. Thirty days time was granted for getting the case into the supreme court. County attorney Marron and Eric Moum appeared. State vs. Wm. Phillips. Hearing was held and the court issued an order to sell the legal property and destroy the illegal property which had been seized. Phillips was arrested recently in connection with a raid on a still in the east end of the county. The date for next law and motion day was set for Nov. 19 at 10:00 a. m.

5. November 25, 1926 The Wolf Point Herald Wolf Point, MT
Article from The Wolf Point Herald, November 25, 1926

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tlin was called up. There being no appearance by either side, default was entered and the case continued until further notice. Judge Paul signed orders authorizing receivers of the Security State bank at Wolf Point, the Citizens' bank of Culbertson and the State Bank to pay the taxes on the property owned by these banks. In the afternoon the judge presided over naturalization day of court. District Director of Naturalization Del L. Sullivan of Denver, appeared for the department of labor. The following petitioners were heard, their witnesses examined, and they were admitted to citizenship: Lazaris Serapin Mamanas, Glasgow; Neils Pederson, Scobey; John O. Bakken, Glasgow; Oliver L. Nordwich, Dowd, who came in under the act of 1926 extending citizenship to honorably discharged soldiers and sailors.

6. November 26, 1926 The Producers News Plentywood, MT
Article from The Producers News, November 26, 1926

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Burns is out on a $1,000 cash bond. He waived preliminary hearing before Justice Moon at Culbertson. He is also out on bond on a liquor charge in connection with a big raid at Culbertson several weeks ago. Walter Jones, serving sentence in the county jail for having in his possession intoxicating liquor, had applied for a remission of part of his sentence. Jones was arrested last June, and pleaded guilty to the charge in district court. He was sentenced to 60 days in jail and $200 fine. Not having the money he was required to serve out the fine at the rate of $2 a day. He petitioned to have part of the fine remitted, but at his hearing before Judge Paul it was brought out that he had eight work horses and a homestead all unincumbered. Judge Paul continued the hearing until the next law and motion day which will be on Dec. 8. In the case of Mary E. Moore versus R. J. Moore which is a suit regarding the division of property. A demurrer had been entered by the attorneys for the defendant, Rhoads and Hallett. The judge overruled this demurrer and gave the defendant 30 days in which to reply. In the case of Pearl Bartz versus the Great Northern railroad Veazy & Veaszy for the railroad entered a demurrer. Judge Paul overruled the demurrer and gave the defendants 30 days in which to answer. The suit was for damages for the death of Wilbur Fred Bartz, son of Mrs. it, Paul Bartz, who met death about two ed years ago. er Divorce Granted. ed A divorce was granted Minnie L. er Davey from J. Lovell Davey. This n case was first heard on November 3 to and then taken under advisement. er The divorce case of George Wettlin versus Alice Wettlin was called up rThere being on appearance by either is side, default was entered and the acase continued until further notice. of Judge Paul signed orders author eizing receivers of the Security State bank at Wolf Point, the Citizens on bank of Culbertson and the Culbert ce son State bank, to pay the taxes or ny the property owned by these banks. he In the afternoon the judge presid ed over naturalization day of court his District Director of Naturalization ore Del L. Sullivan of Denver, appeare ns, for the department of labor. The for following petitioners were heard ovtheir witnesses examined, and the n't were admitted to citizenship: Lazari He Serapin Mamanas, Glasgow; Niel est Pederson, Scobey; John O. Bakker art Glasgow; Oliver L. Nordwich, Dow ng who came in under the act of 1926 til extending citizenship to honorabl isg discharged soldiers and sailors.

7. February 16, 1927 The Great Falls Leader Great Falls, MT
Article from The Great Falls Leader, February 16, 1927

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COURT UPHOLDS BANK RECEIVER Helena Feb. 16 long the district court handling the 11quidation of a closed state bank 14 satisfied that the assets of the bank are insufficient to pay its liabilities, it is justified in ordering the receivto collect stockholders' liability the supreme court says. The judgment of the district court for Roosevelt county in the action of H. C. Skarle, receiver of the Citizens State bank of Culbertson, against Peter Marron. is affirmed The receiver did not need to wait until the bank's assets had been converted Into cash and applied to the payment of claims, the appellate court says.

8. February 16, 1927 The Billings Gazette Billings, MT
Article from The Billings Gazette, February 16, 1927

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Bank Receiver May Assess Stockholders Any Time, Says Court Helena, Feb long as the district court handling the liquidation of closed bank is satisfied that the assets of the bank are insufficient to pay liabilities, is justified in ordering the receiver to collect stockholders' liabilities, the court ruled Tuesday The judgment the district court for Rooseve county the action of H. Skarie, receiver of the Citizens' State bank of Culbertson against Peter Marron is affirmed The receiver did not need wait until the bank's had been converted cash and applied to the payment of claims, the appellate court

9. November 11, 1927 The Wolf Point Herald Wolf Point, MT
Article from The Wolf Point Herald, November 11, 1927

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# NOTICE OF SHERIFF'S SALE # OF REAL PROPERTY In the District Court of the Twen-tieth Judicial District of the State of Montana, in and for the County of Roosevelt. Lethe B. Morrison, Plaintiff VS Emma Weist, formerly Emma Grund, and the Citizens State Bank of Culberston, a corporation, and H.C. Skarie as Receiver of the Citizens State Bank of Culbertson, a corporation, Defendants NOTICE is hereby given, that I, the undersigned Sheriff of

10. November 18, 1927 The Wolf Point Herald Wolf Point, MT
Article from The Wolf Point Herald, November 18, 1927

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Lethe B. Morrison, Plaintiff vs Emma Weist, formerly Emma Grund, and the Citizens State Bank of Culberston, a corporation, and H.C. Skarie as Receiver of the Citizens State Bank of Culbertson, a corporation, Defendants NOTICE is hereby given, that I, the undersigned Sheriff of Roosevelt County, Montana, pursuant to the Order of Sale in the decree of foreclosure entered in the above entitled action in the above entitled court, will on Saturday, the 3rd day of December, A. D. 1927, at the hour of Two 0'clock P. M. on said day, sell at public auction to the highest and best bidder for cash, in front of the Court House in the City of Wolf Point, Roosevelt County, Montana, the following described real property, to-wit:

11. December 2, 1927 The Wolf Point Herald Wolf Point, MT
Article from The Wolf Point Herald, December 2, 1927

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Lethe B. Morrison, Plaintiff vs Emma Weist, formerly Emma Grund, and the Citizens State Bank of Culbertson, a corporation, and H.C. Skarie as Receiver of the Citizens State Bank of Culbertson, a corporation, Defendants NOTICE is hereby given, that I, the undersigned Sheriff of Roosevelt County, Montana, pursuant to the Order of Sale in the decree of foreclosure entered in the above entitled action in the above entitled court, will on Saturday, the 3rd day of December, A. D. 1927, at the hour of Two 0'clock P. M. on said day, sell at public auction to the highest and best bidder for cash, in front of the Court House in the City of Wolf Point, Roosevelt County, Montana, the following described real property, to-wit: