11449. Northwestern National Bank (Livingston, MT)

View Charter #11000 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
11000
Charter Number
11000
Start Date
August 28, 1924
Location
Livingston, Montana (45.662, -110.561)

Metadata

Model
gpt-5-mini
Short Digest
98d22f76

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1924-08-30
Date receivership terminated
1928-02-21
OCC cause of failure
Economic conditions
Share of assets assessed as good
35.9%
Share of assets assessed as doubtful
42.7%
Share of assets assessed as worthless
21.3%

Description

The Northwestern National Bank of Livingston suspended/closed in late August 1924 and was placed in receivership (examiner from the Comptroller of the Currency). Multiple later articles describe receiver actions and dividend payments; the bank remained defunct. No article describes a depositor run prior to suspension.

Events (6)
1. May 25, 1917 Chartered
Source
historical_nic
2. August 28, 1924 Suspension
Cause
Government Action
Cause Details
Bank suspended/closed and examiner from the Comptroller of the Currency was placed in charge; closure appears to have been handled by federal banking authorities.
Newspaper Excerpt
The Northwestern bank closed its doors Aug. 28, 1924.
Source
newspapers
3. August 30, 1924 Receivership
Source
historical_nic
4. September 10, 1924 Receivership
Newspaper Excerpt
The affairs of the bank have been placed in the hands of F. E. Harris, an examiner in the office of the comptroller of the currency at Washington.
Source
newspapers
5. March 1, 1925 Other
Newspaper Excerpt
A dividend of 30 per cent for the defunct Northwestern National bank of this city was announced for March 1 by Receiver John A. Sanderson Friday afternoon.
Source
newspapers
6. January 9, 1928 Other
Newspaper Excerpt
Creditors of the Northwestern National bank are assured of 103 cents on the dollar, Receiver V. P. Wright estimated Monday on receipt of a check for $35,000 from former State Senator A. W. Miles, Livingston. Senator Miles purchased all the assets of the bank, of which he was a stockholder and director, when it closed about two years ago.
Source
newspapers

Newspaper Articles (8)
1. September 10, 1924 The Bozeman Courier Bozeman, MT
Article from The Bozeman Courier, September 10, 1924

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Article Text

Seventh Park County Bank Fails The Northwestern National Bank of Livingston, which suspended operations last Thursday morning, was the seventh banking institution to close its doors in Park county during the past two years. The bank carried $160,000 of deposits and was capitalized at $100,000. At the time of its closing L. H. Van Dyck, formerly of Gardiner, was president, and Roy Krom, mayor of Livingston, was cashier. The affairs of the bank have been placed in the hands of F. E. Harris, an examiner in the office of the comptroller of the currency at Washington.

2. February 25, 1925 The Bozeman Courier Bozeman, MT
Article from The Bozeman Courier, February 25, 1925

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Article Text

DEFUNCT LIVINGSTON BANK TO PAY THIRTY PER CENT DIVIDEND Livingston.-A divident of 30 per cent for the defunct Northwestern National bank of this city was announced for March 1 by Receiver John A. San derscn Friday afternoon. The checks and schedule for payment are expected back from Washington, where thev were sent for approval, within a few days. Reclaimed bank paper and the deposit with the federal department to cover the first dividend amount to $120,000. Checks ranging from 25 cents to $10,000 are included in the dividend to be paid, the receiver said. The Northwestern bank closed its doors Aug. 28, 1924.

3. March 19, 1925 The Denton Recorder Denton, MT
Article from The Denton Recorder, March 19, 1925

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Article Text

Failed Bank Paying Out. A dividend of $30,000 for the failed Northwestern National. of Livingston, has just been paid to depositors by the receiver.

4. April 23, 1925 Belt Valley Times Belt, Armington, MT
Article from Belt Valley Times, April 23, 1925

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Article Text

John A. Sanderson, receiver for the Northwestern National bank at Livingston, was notified that he has been named receiver for the First National bank at Wilsall in addition to his duties with the local defunct banking institution. The books and records of the Wilsall bank will be brought to Livingston and the receivership will be administered from that city, Mr. Sanderson sald. A small army of 1,300 men will be available in the national forests of western Montana and Idaho for fire prevention and protection work. Two thousand three hundred and twenty-eight special use permits were issued last year by officers of district No. 1, of the forest service, a report just made public show. These were for many purposes. A bond Issue of approximately $330,000, to be used for the redemption of poor fund warrants, was sold at Butte to the Ohio firm of Stranham, Harris & Otis which submitted the best of nine bids. The Issue brought a premium of $2,161.50. The bonds run from one to 20 years. That Boseman is getting her share of tourist travel is revealed by statistics complied from, the 1924 records of the Bozeman tourist park. Last season 3,251 cars registered at the park, with a total of 10,269 people. More than 2,000 tourists stopped in the city for a period of one day or more. One tourist is reported as having spent $300 for merchandise at one store. I. M. Brandjord, of Ronan, who has taken office as register of state lands, began to accustom himself to his duties under the tutelage of H. V. Balley, whom he will succeed. C. S. Hall of Libby has application pending for a patent on an improved railroad spike which will not work up and become loose. The Invention tias found favor with Great Northern officlais, It is said, who have requested that samples be left with them in order that the spike could be demonstrated to a St. Paul official who expects to visit in Spokane soon.

5. May 22, 1925 The Producers News Plentywood, MT
Article from The Producers News, May 22, 1925

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Article Text

RECEIVERSHIPS CONSOLIDATED Livingston-John A. Sanderson, receiver for the Northwestern National Bank, was notified that he has been named receiver for the First National Bank at Wilsall in addition to his duties with the local institution. The books and records of the Wilsall bank will be brought to Livingston and the receivership will be administered from this city. The Wilsall bank closed a year ago and at that time W. W. Brandt of the comptroller's department was sent from Minneapolis, to serve as a receiver. With the new appointment Mr. Brandt is released from further duty and after a visit to his home in Minnesota will probably be sent south, it is said.

6. January 22, 1926 The Bozeman Courier Bozeman, MT
Article from The Bozeman Courier, January 22, 1926

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Article Text

# BOURQUIN FROWNS # ON RECEIVERSHIPS # OF LONG DURATION HELENA.-Tendency of bank receiverships to continue for long periods of time was frowned upon by Judge George M. Bourquin in federal court here when he denied the motion of Attorney J. R. Wine for continu-ance to the next term of the case of John A. Sanderson, receiver of the Northwestern National Bank of Livingston, against Vilroy C. Miller. The court ruled that the case should be tried as soon as possible, inasmuch as funds involved represent the property of depositors.

7. January 27, 1928 The Producers News Plentywood, MT
Article from The Producers News, January 27, 1928

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Article Text

Park County Bank Pays 103 Per Cent To All Creditors Livingston, Jan. 9. - Creditors of the Northwestern National bank are assured of 103 cents on the dollar, Receiver V. P. Wright estimated Monday on receipt of a check for $35,000 from former State Senator A. W. Miles, Livinston. Senator Miles purchased all the assets of the bank, of which he was a stockholder and director, when it closed about two years ago.

8. February 3, 1928 Great Falls Tribune Great Falls, MT
Article from Great Falls Tribune, February 3, 1928

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Article Text

Defunct Bank Will Pay 103 Percent, Declares Receiver LIVINGSTON Feb of 20 and percent are ready for creditors the Northwestern Nationat bank. Livingston. Receiver C. P Wright announces. There been six and these lotments bring the total to 103 percent The bank closed 27. 1927 Payments must be called for. Mr Wright said. within two weeks. when the receivership will be closed