11322. Benton State Bank (Fort Benton, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 1, 1922*
Location
Fort Benton, Montana (47.818, -110.667)

Metadata

Model
gpt-5-mini
Short Digest
f7d3e184

Response Measures

None

Description

Articles state Benton State Bank was closed in 1922 and that a receiver (John Phelan) has been administering the estate and filed final account in 1934 to pay a final dividend. No run is described. Thus this is a suspension that resulted in permanent closure with receivership.

Events (3)
1. January 1, 1922* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank had closed (insolvency/failed) in 1922 and subsequently placed in receivership; closure appears due to bank-specific failure rather than a run described in the articles.
Newspaper Excerpt
The bank has already paid per cent depositors since was closed in 1922.
Source
newspapers
2. July 25, 1934 Receivership
Newspaper Excerpt
Receiver John Phelan, of the Benton State bank, has filed with the Clerk the District Court his final account of the affairs of that institution and has also petitioned the Court for authority to pay the final dividend for the bank. The hearing has been set for August 3rd.
Source
newspapers
3. August 15, 1934 Other
Newspaper Excerpt
final dividend to depositors the Benton State bank Receiver John Phelan... Chouteau county the largest gainer by the recent payment of final dividend to depositors the Benton State bank
Source
newspapers

Newspaper Articles (3)
1. July 25, 1934 The River Press Fort Benton, MT
Article from The River Press, July 25, 1934

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Article Text

Files Final Account For Bank Receiver John Phelan, of the Benton State bank, has filed with the Clerk the District Court. his final account of the affairs of that institution and has also petitioned the Court for authority to pay the final dividend for the bank. The hearing has been set for August 3rd. which time the will The bank has already paid per cent depositors since was closed in 1922. The assets of the bank were held for some believing that conditions become better and could realized from the properties owned the trust. weeks the bank building and remaining assets sold to the highest bidder. Just the amount the dividend has not been determined, but will not be large

2. August 15, 1934 The River Press Fort Benton, MT
Article from The River Press, August 15, 1934

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Article Text

the Stanford Hannah and family, Gridley, California, visited for an hour or two in Fort Benton Wednesday, They enroute to Lewistown spend several days with Mrs. Hannah's mother and had come from had taken them to many points, including Chicago fair. At BelviIllinois, they visited with Stanford's parents, Mr. and Mrs. Hannah, former residents Fort ton. Near Glendive they stopped to his sister, Georgia, now ried and living near that city. While Fort Benton they were unable visit more than few old time friends. Stanford asked that we extend greetings those whom not able to The Hannah family came Fort Benton some twenty years and homestead the top the hog back hill, still holding this land. The children attended the local school and Mr. Hannah was eler Lockwood store. After the Stanford attended college and later taught agriculture. About ago he moved Gridley to ter the schools there capacity. The party the tour included Mr. and Mrs. Hannah, their three children and Mrs. Hannah's Dividend Chouteau county the largest gainer by the recent payment of final dividend to depositors the Benton State bank Receiver John Phelan. county treasurer, received check for as the county's share in the dividend. This county had on deposit approximately the the the bank 1922. Some time bank the closed the county was forced to the pay state, and school district in full for their share the money kept in the bank deposit and this county showed of in the might be interest our readers know just how that vided into the various funds belonging the county. The general fund ceived total of the poor fund the bridge fund the bond sinking and interest fund ceived largest of the this amounting to the library fund received $133.94; the road fund $875.55 and the gopher fund the amount. will now be possible for Chouteau county to charge off the balance this account and get their books straightened out. The money right this time will come in pretty handy several of the funds to which

3. August 15, 1934 The River Press Fort Benton, MT
Article from The River Press, August 15, 1934

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Article Text

Depositors Mistakes seem to have habit of creeping into news articles and no exception to this rule. writing up the article regarding the dividend of the Benton State bank, which was paid last week by Receiver John Phelan, figure eight failed drop the heading the article and this made read: Paid Percent During Term when should have read 38.78 percent. This was quite ference and was easily noticeable by anyone familiar with the bank. The main part of item rect to the amount but the heading made the payment very small deed. Mr. Phelan has mailed large number of the checks and wishes dispose of of them just as possible. Depositors urged send in their receiver's certificates mediately that checks may be out once. We very sorry that this mistake occurred and are too glad to correct