11459. Security State Bank (Medicine Lake, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 17, 1925
Location
Medicine Lake, Montana (48.501, -104.505)

Metadata

Model
gpt-5-mini
Short Digest
f221ce94

Response Measures

None

Description

Multiple court filings from 1925–1927 identify S. C. Faaborg as Receiver of the Security State Bank of Medicine Lake. No articles describe depositor runs; the bank was placed in receivership and subject to foreclosure actions, consistent with suspension and permanent closure. Earliest clear dated mention of the receiver in these clippings is 1925-04-17.

Events (2)

1. April 17, 1925 Receivership
Newspaper Excerpt
S. C. FAABORG, Receiver of Security State Bank of Medicine Lake, a corporation, Defendants.
Source
newspapers
2. April 17, 1925 Suspension
Cause
Government Action
Cause Details
Bank placed in receivership (S. C. Faaborg named receiver) leading to suspension of normal operations.
Newspaper Excerpt
S. C. FAABORG, Receiver of Security State Bank of Medicine Lake, a corporation, Defendants.
Source
newspapers

Newspaper Articles (10)

Article from The Producers News, April 17, 1925

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Article Text

# SHERIFF'S SALE IN THE DISTRICT COURT OF THE TWENTIETH JUDICIAL DIS- TRICT OF THE STATE OF MON- TANA, IN AND FOR THE COUN- TY OF SHERIDAN. WISCONSIN NATIONAL LIFE IN- SURANCE COMPANY, a corpora- tion, Plaintiff, Vs. JOHANNES PEDERSEN and KIR- STEN PEDERSEN, SECURITY STATE BANK OF MEDICINE LAKE, a corporation, and S. C. FAABORG, Receiver of Security State Bank of Medicine Lake, a corporation, Defendants. To be sold at Sheriff's Sale on the


Article from The Producers News, June 5, 1925

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THE FIRST NATIONAL BANK, Sleepy Eye, Minnesota, a corporation, Plaintiff, versus ANDERS PETER ANDERSON and • CATHERINE ANDERSON, his wife, GRACE TAYLOR and JESSE TAYLOR, her husband, SECURI- TY STATE BANK of Medicine Lake, a corporation, and S. C. FAA- BORG, as Receiver of said bank, Defendants. The State of Montana Sends Greetings to the above named defendants: YOU are hereby summoned to answer the complaint in this action which is filed in the Office of the Clerk of this Court, a copy of which is herewith served upon you in the County wherein you reside, and to file your answer and serve a copy thereof upon the plaintiff's attorney within twenty (20) days after service of this Summons exclusive of the day of service; and in case of your failure to appear or answer, judgment will be taken against you, by default, for the relief demanded in the complaint. This action is brought by the plaintiff, to foreclose a certain real estate mortgage, made, executed and delivered by the above named defendants, Anders Peter Anderson and Catherine Anderson, his wife, to the Security State Bank of Medicine Lake, a corporation, on the 25th day of October, A. D. 1917, to secure the payment of Two Thousand ($2000.00) Dollars, represented by one promissory note of even date; which real estate mortgage was filed for record and duly recorded in the office of the County Clerk and Recorder of Sheridan County, State of Montana, on the 30th day of October A. D. 1917, at the hour of four (4) o'clock P. M. of said day, in Book 156 of Mortgages, on pages 408, 409, and 410, of the records of Sheridan County, Montana, which real estate mortgage and indebtedness was thereafter duly sold and assigned to the plaintiff herein. That the real estate covered by said Mortgage is situated in the County of Sheridan, State of Montana and described as follows, to-wit: The South Half of Section Twenty-five (25) in Township Thirty-one (31) North, of Range Fifty-seven (57) East, of the Montana Meridian, Montana. That the said defendants, Anders Peter Anderson and Catherine Anderson, his wife, made default in the payment of the indebtedness, secured by said mortgage, by neglecting and refusing to pay the principal promissory note when the same became due, on the 25th day of October A. D. 1922, and thereby made default in the terms and conditions of said mortgage, and by said action the plaintiff seeks judgment against the said defendants, Anders Peter Anderson and Catherine Anderson, his wife, for the sum of Two Thousand ($2000.00) Dollars, the principal note, and interest on said sum at the rate of twelve (12) per cent per annum after October 25th, 1922, and for one (1) interest note in the sum of One Hundred Twenty ($120.00) Dollars, and interest on the same at the rate of twelve (12) per cent per annum after maturity, together with Four ($4.00) Dollars abstract fees, and Seventy-five ($75.00) Dollars, attorney's fees, and for the costs and disbursements of this action, and for the sale of said real estate, as more fully appears by the complaint filed in this action, to which reference is hereby made. WITNESS MY HAND, and the


Article from The Producers News, December 11, 1925

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ANTONIE MARSHALL, Plaintiff, versus JEPPE L. JEPPESEN and MARIE JEPESEN, his wife, D. RAY GREGG and ELEANOR H. GREGG, his wife, SECURITY STATE BANK OF MEDICINE LAKE, Medicine Lake, Montana, a corporation, and S. C. FAABORG, Receiver of said Bank, and SHERIDAN COUNTY, MONTANA, a body corporate and politic, Defendants, THE STATE OF MONTANA SENDS GREETINGS TO THE ABOVE NAMED DEFENDANTS: You are hereby summoned to answer the complaint in this action which is filed in the office of the Clerk of this Court, a copy of which is herewith served upon one of you in each County wherein any of you reside, and to file your answer and serve a copy thereof upon the plaintiff's attorny within twenty days after service of this Summons, exclusive of the day of service; and in case of your failure to appear or answer, judgment will be taken against you by default, for the relief demanded in the complaint. This is an action brought by the plaintiff to foreclose a certain Real Estate Mortgage, made, executed and delivered by the above named defendants, Jeppe L. Jeppesen and Marie Jeppesen, his wife, to the Security State Bank of Medicine Lake, Medicine Lake, Montana, a corporation, on the 1st day of May, A. D. 1917, to secure the payment of Fifteen Hundred $1500.00) Dollars, represented by a promissory note of even date, due and payable on the 1st day of May A. D. 1922; which real estate mortgage was filed for record in the office of the County Clerk and Rcorder, in Sheridan County, Montana, on the 8th day of May A. D. 1917, at the hour of Three (3) o'clock P. M. of said day, in Book 141 of Mortgages, on pages 388, 389 and 390 of the records of Sheridan County, Montana, which real estate mortgage was thereafter duly sold and assigned to the plaintiff herein, on the 2nd day of January, A. D. 1917. That the Real Estate covered by said Mortgage is situated in the County of Sheridan, State of Montana, and described as follows, to-wit: The Southeast Quarter of Section Seven (7), in Township Thirty-three (33) North, of Range Fifty-eight (58) East, of the Montana Meridian, Montana. That the said defendants, Jeppe L. Jeppesen and Marie Jeppesen, his wife, made default in the payment of the indebtedness secured by said mortgage, by neglecting and refusing to pay the principal note when the same became due, on 1st day of May, A D. 1922, and the said defendants thereby made default in the terms and conditions of said Mortgage, and by this action the plaintiff seeks judgment against the above named defendants, Jeppe L. Jeppesen and Marie Jeppesen, his wife, for the sum of Fifteen Hundred ($1500.00) Dollars, besides interest on said sum, at the rate of twelve per cent per annum from and after the 1st day of May A. D. 1922, together with an abstract fee of Eleven and 80-100 ($11.80) Dollars, and attorney fees of One Hundred ($100.00) Dollars, and for the costs and disbursements of this action; for the sale of said real estate, as more fully appears by the complaint filed in this action, to which reference is hereby made. WITNESS MY HAND and the Seal of this Court, this 17th day of November, A. D. 1925. (Court Seal) D. J. OLSON, Clerk of said District Court. GRANT BAKEWELL, Medicine Lake, Mont. Attorney for Plaintiff. 36-t4


Article from The Producers News, February 19, 1926

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ANTONIE MARSHALL, Plaintiff, versus JEPPE L. JEPPESEN and MARIE JEPPESEN, his wife, D. RAY GREGG and ELEANOR H. GREGG, his wife, SECURITY STATE BANK OF MEDI- CINE LAKE, Medicine Lake, Mon- tana, a corporation, and S. C. FAA- BORG, Receiver of said bank, and SHERIDAN COUNTY, MONTANA, a body corporate and politic, Defend- ants.


Article from The Producers News, November 12, 1926

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RODNEY SALISBURY, Sheriff of Sheridan Coun Sheriff of Sheridan County, Mont. T. W. GREER, Attorney for the Plaintiff, Plentywood, Montana. 29-t4 # SUMMONS FOR PUBLICATION IN THE ISTRICT COURT OF THE TWENTIETH JUDICIAL DISTRICT OF THE STATE OF MONTANA, IN AND FOR THE COUNTY OF SHERIDAN. MINNEAPOLIS TRUST COMPANY, a corporation, as Trustee, Plaintiff, vs. ODIN LUTNES as administrator of the estate of HETTIE PRITCHETT, a widow, deceased, ALBERT D. PAULSON and ETTA PAULSON, his wife, JAMES SIMMONS; SECURITY STATE BANK OF MEDICINE LAKE, a corporation; and S. C. FAABORG as the Receiver of the Security State Bank of Medicine Lake, a corporation, and "all other persons, unknown, claiming or who might claim any right, title, estate, or interest in or lien or encumbrance upon, the real property described in the complaint, or any thereof, adverse to plaintiff's ownership, or any cloud upon plaintiff's title thereto, whether such claim or possible claim be present or contingent, including any claim or possible claim of dower, inchoate or accrued." Defendants. THE STATE OF MONTANA SENDS


Article from The Producers News, November 19, 1926

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MINNEAPOLIS TRUST COMPANY, a corporation, as Trustee, Plaintiff, VS. ODIN LUTNES as administrator of the estate of HETTIE PRITCHETT, a widow, deceased, ALBERT D. PAULSON and ETTA PAULSON, his wife, JAMES SIMMONS; SECURITY STATE BANK OF MEDICINE LAKE, a corporation; and S. C. FAABORG as the Receiver of the Security State Bank of Medicine Lake, a corporation, and "all other persons, unknown, claiming or who might claim any right, title, estate, or interest in or lien or encumbrance upon, the real property described in the complaint, or any thereof, adverse to plaintiff's ownership, or any cloud upon plaintiff's title thereto, whether such claim or possible claim be present or contingent, including any claim or possible claim of dower, inchoate or accrued." Defendants. THE STATE OF MONTANA SENDS


Article from The Producers News, November 26, 1926

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ΜΙΝΝΕΑΡPOLIS TRUST COMPANY, a • corporation, Plaintiff, VS. ODIN LUTNESS as administrator of the estate of HETTIE PRITCHETT, a widow, deceased, ALBERT D. PAULSON and ETTA PAULSON, his wife, JAMES SIMMONS; SECURITY STATE BANK OF MEDICINE LAKE, a corporation; and S. C. FAABORG as the Receiver of the Security State Bank of Medicine Lake, a corporation, and "all other persons, unknown, claiming, or who might claim any right, title, estate, or interest in, or lien or encumbrance upon, the real property described in the complaint, or any thereof, adverse to plaintiff's ownership, or any cloud upon plaintiff's title thereto, whether such claim or possible claim be present or contingent, including any claim or possible claim of dower, inchoate or accrued." Defendants.


Article from The Producers News, November 26, 1926

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MINNEAPOLIS TRUST COMPANY, a corporation, as Trustee, Plaintiff, vs. ODIN LUTNES as administrator of the estate of HETTIE PRITCHETT, a widow, deceased, ALBERT D. PAULSON and ETTA PAULSON, his wife, JAMES SIMMONS; SECURI- TY STATE BANK OF MEDICINE LAKE, a corporation; and S. C. FAABORG as the Receiver of the Security State Bank of Medicine Lake, a corporation, and "all other persons, unknown, claiming or who might claim any right, title, estate, or interest in or lien or encumbrance upon, the real property described in the complaint, or any thereof, ad- verse to plaintiff's ownership, or any cloud upon plaintiff's title there- to, whether such claim or possible claim be present or contingent, in- cluding any claim or possible claim of dower, inchoate or accrued." Defendants.


Article from The Producers News, April 15, 1927

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MINNEAPOLIS TRUST COMPANY, a corporation, Plaintiff, vs. ODIN LUTNESS as administrator of the estate of HETTIE PRITCHETT a widow, deceased, ALBERT D. PAULSON and ETTA PAULSON, his wife, JAMES SIMMONS; SECURITY STATE BANK OF MEDICINE LAKE, a corporation; and S. C. FAABORG as the Receiver of the Security State Bank of Medicine Lake, a corporation, "and all other persons, unknown, claiming or who might claim any right, title, estate, or interest in, or lien or encumbrance upon, the real property described in the complaint, or any thereof, adverse to plaintiff's ownership, or any cloud upon plaintiff's title thereto, whether such claim or possible claim be present or contingent, including any claim or possible claim of dower, inchoate or accrued," Defendants.


Article from The Producers News, December 23, 1927

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versus MRYTLE C. SMITH, ROBERT E. SMITH, her husband, SECURITY STATE BANK OF MEDICINE LAKE, MONTANA, a corporation, S. C. FAABORG, as Receiver of SECURITY STATE BANK OF MEDICINE LAKE, MONTANA, a corporation; RODERICK McGREGOR, and SHERIDAN COUNTY, MONTANA, a body politic and corporate, Defendants.