11506. First National Bank (Polson, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
9449
Charter Number
9449
Start Date
May 1, 1924*
Location
Polson, Montana (47.694, -114.163)

Metadata

Model
gpt-5-mini
Short Digest
67388199

Response Measures

None

Receivership Details

Depositor recovery rate
28.0%
Date receivership started
1924-03-22
Date receivership terminated
1928-12-31
OCC cause of failure
Economic conditions
Share of assets assessed as good
25.9%
Share of assets assessed as doubtful
50.5%
Share of assets assessed as worthless
23.7%

Description

Multiple contemporaneous newspaper items report that the First National Bank of Polson closed a year and a half ago (i.e. about May 1924) and that R. C. Riddick had been receiver since that closing; in Nov 1925 Riddick resigned and J. M. Swan was named receiver. No run is reported in the articles and the bank is in receivership, indicating a suspension that led to permanent closure. Exact reason for the original closing is not stated in the clippings (OCR errors corrected for names).

Events (4)

1. June 16, 1909 Chartered
Source
historical_nic
2. March 22, 1924 Receivership
Source
historical_nic
3. May 1, 1924* Suspension
Cause Details
Articles state the bank closed a year and a half ago but do not give a reason for the suspension/closing.
Newspaper Excerpt
R. C. Riddick, who has been receiver of the First National bank of Polson since it closed a year and a half ago
Source
newspapers
4. November 18, 1925 Receivership
Newspaper Excerpt
R. C. Riddick ... has resigned and has been succeeded by J. M. Swan, who is receiver of the First National banks at Ronan and Charlo. Mr. Swan will handle the affairs of all three banks and will be assisted by C. D. Livingston.
Source
newspapers

Newspaper Articles (10)

Article from The Searchlight, November 18, 1925

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Article Text

Receiver for Three Banks R. Riddick, who been receiver the First National bank of Polson since closed year and half ago, has and has been succeeded Swan, who receiver the by First National banks at and Charlo. Mr. Swan handle the afof all three banks and will assisted by Livingston.


Article from Belt Valley Times, November 19, 1925

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Article Text

Receiver for Three Banks Riddick, has been receiver the First National bank of Polson since closed and half ago, has resigned and has been Swan, who of the First National banks and Charlo. Mr. Swan will handle the fairs of all three banks and will assisted by Livingston.


Article from The Yellowstone, November 19, 1925

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Article Text

Receiver for Three Banks R. has been receiver of the First National bank Polson since closed year and half has resigned and has been succeeded Swan, who receiver of the First National banks and Charlo. Mr. Swan will handle the fairs of all three banks and will assisted by Livingston.


Article from Jefferson Valley News, November 19, 1925

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Article Text

Receiver for Three Banks of the First National bank of Polson since closed year and half ago, has resigned and has been succeeded Swan. who receiver of the First National banks and Charlo. Mr Swan will handle the affairs of three banks and assisted by Livingston.


Article from Ashland Pioneer Press, November 20, 1925

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Article Text

Receiver for Three Banks R. C. Riddick. who has been receiver of the First National bank of Polson since it closed a year and a half ago, has resigned and has been succeeded by J. M. Swan, who is receiver of the First National banks at Ronan and Charlo. Mr. Swan will handle the affairs of all three banks and will be assisted by C.D. Livingston.


Article from The Ismay Journal, November 20, 1925

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Article Text

Receiver for Three Banks R. C. Riddick, who has been receiver of the First National bank of Polson since it closed a year and a half ago, has resigned and has been spcceeded by J. M. Swan, who is receiver of the First National banks at nan and Charlo. Mr. Swan will handle the affairs of all three banks and will be assisted by C. D. Livingston.


Article from Plevna Herald, November 20, 1925

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Article Text

Receiver for Banks Riddick, who has of the First National bank of Polson since closed year and half has and Swan, who receiver the First National banks Ronan and Charlo. Mr. Swan will handle the fairs of all three banks and will be assisted by Livingston.


Article from The Mccone County News, November 20, 1925

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Article Text

Receiver for Three Banks Riddick, has been receiver National bank Polson the First closed and half since year and has been succeeded has resigned who receiver of the Swan, banks at Ronan and First National Mr. Swan will handle the Charlo. banks and will be all three fairs Livingston. assisted


Article from The Nashua Independent, November 26, 1925

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Article Text

Receiver for Three Banks R. who has been receiver of the First National bank of Polson since closed and half ago, has resigned and has been succeeded by is receiver of the First National banks at Ronan and Mr. Swan will handle the affairs of all three banks and will be assisted by Livingston.


Article from Plainsman, January 14, 1926

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Article Text

Receiver for Three Banks R. Riddfck, who has been receiver of the First National bank of Polson since closed a year and a half ago, has resigned and has been succeeded by J. M. Swan, who is receiver of the First National banks at Ronan and Charlo. Mr. Swan will handle the fairs of all three banks and will be assisted by D. Livingston.