Citizens State Bank - Dooley, MT

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 13, 1931
Location: Dooley, Montana (48.881, -104.389)

Metadata

Model: gpt-5-mini
Short Digest: dcc987dc

Response Measures

None

Description

Article (The Producers News, 1931-03-13) reports that Citizens State Bank of Dooley was purchased/consolidated with the Plentywood (Farmers and Merchants) bank because the Dooley bank had been running at a loss and deposits had shrunk. No run on the bank is described; the bank is being moved to Plentywood and Plentywood will honor the Dooley checks/deposits, implying permanent closure/merger rather than a simple temporary suspension.

Events (1)

1. March 13, 1931 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Dooley bank had been running at a loss for some months and experienced a constant shrinkage of funds on deposit; stockholders sold/ consolidated the bank into Plentywood.
Newspaper Excerpt: The Farmers and Merchants ... made a deal with stockholders of the Citizens State Bank of Dooley to purchase that bank and move it to Plentywood early this week. Plentywood bank will honor the checks and deposits of the Dooley bank patrons.
Source: newspapers

Newspaper Articles (1)

1. March 13, 1931 The Producers News Plentywood, MT

Article from The Producers News, March 13, 1931

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Article Text

CITIZENS STATE BANK OF DOOLEY AND PLENTYWOOD BANK ARE CONSOLIDATED The Farmers and Merchants that the Dooley bank has been running at a loss for some months State Bank of this city made a as was disclosed in the Producers deal with stockholders of the CitNews in January when it predictizens State Bank of Dooley to pured a consolidation soon for the chase that bank and move it to Dooley bank. This is the first of a Plentywood early this week. The series of consolidations that will Plentywood bank will honor the occur in Sheridan county before checks and deposits of the Dooley the first of next January. bank patrons. Stockholders of the The present pressure on the Dooley bank are George Epler of Williston, Andrew and Justin Sheridan county banks will be reUeland of Outlook and Nels Marlieved temporary by the governkuson of Medicine Lake. ment farm seed loan and the solThe cause of the consolidation of diers'. bonus payments, which for the banks is the constant shrinkthe time being will increase local age of funds on deposit in the deposits. banks of the county and the fact