Benton State Bank - Fort Benton, MT

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 26, 1922
Location: Fort Benton, Montana (47.818, -110.667)

Metadata

Model: gpt-5-mini
Short Digest: 5f7a81d2

Response Measures

None

Description

Article (Great Falls Tribune, 1922-12-27) reports the Benton State Bank suspended business on directors' orders (Dec 26, 1922) due to inability to realize loans and heavy holiday withdrawals. No reopening is mentioned; classified as suspension leading to closure (no evidence of later resumption).

Events (1)

1. December 26, 1922 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Inability to realize on loans (bad or illiquid loans) combined with heavy holiday withdrawals prompted directors to suspend business; suspension ordered by board of directors.
Newspaper Excerpt: Benton State Bank Suspends Business on Directors' Orders ... Inability to realize on loans and the heavy withdrawals of the holiday season were given as the reasons for the closing of the Benton State bank Tuesday morning on order of the board of directors.
Source: newspapers

Newspaper Articles (1)

1. December 27, 1922 Great Falls Tribune Great Falls, MT

Article from Great Falls Tribune, December 27, 1922

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Article Text

Benton State Bank Suspends Business on Directors' Orders Special to The Tribune. Fort Benton, Dec. 26.-Inability to realize on loans and the heavy withdrawals of the holiday season were given as the reasons for the closing of the Benton State bank Tuesday morning on order of the board of directors. The decision to suspend business was made by the directors at a meeting held before banking hours hours Friday morning. Officials of the institution expressed the belief that with the collection of a good part of the outstanding paper, depositors could be assured of payment of a large percentage of their accounts. The Benton State bank, organized about 10 years ago. was capitalized at $125,000, and carried a surplus of $75,000. The directors and officers are: C. J. McNamara, George B. Bourne, Conrad Koulage, A. E. McLeish, E. G. Lockwood, F. J. Moyer, J. G. Williams, J. S. Brown, C. B. Power, L. D. Sharpe, F. J. Flanagan, C. B. Power is the president, L. D. Sharpe. the vice president, and F. J. Flanagan, the ceashier.