First State Bank - Ovando, MT

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: August 1, 1921*
Location: Ovando, Montana (47.020, -113.133)

Metadata

Model: gpt-5-mini
Short Digest: 2d627fc2

Response Measures

None

Description

Article (Great Falls Tribune, 1921-08-04) reports the First State Bank of Ovando was closed by state authorities and is in the hands of a receiver. No run or depositor panic is mentioned; closure appears to be by government action and the bank is in receivership.

Events (2)

1. August 1, 1921* Suspension

Cause: Government Action
Cause Details: Closed by state authorities (regulatory action) and placed in receivership.
Newspaper Excerpt: The bank with which they were connected was recently closed by the state authorities and is in the hands of a receiver.
Source: newspapers

2. August 3, 1921 Receivership

Newspaper Excerpt: The bank ... was recently closed by the state authorities and is in the hands of a receiver.
Source: newspapers

Newspaper Articles (1)

1. August 4, 1921 Great Falls Tribune Great Falls, MT

Article from Great Falls Tribune, August 4, 1921

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Article Text

Bankers Innocent, Aver; Bail $27,000 Butte, Aug. 3.-C. H. and Scott Cassell. president and cashier respectively of the First State bank of Ovando, were arraigned in the district court at Deer Lodge on six informations, charging them with offenses against the banking laws of the state. They pleaded not guilty and Judge Winston fixed their bonds in the sum of $27,000. The bank with which they were conneceted was recently closed by the state authorities and is in the hands of a receiver.