11517. First National Bank (Roundup, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
9165
Charter Number
9165
Start Date
March 1, 1923*
Location
Roundup, Montana (46.445, -108.542)

Metadata

Model
gpt-5-mini
Short Digest
f80c7753

Response Measures

None

Receivership Details

Depositor recovery rate
17.2%
Date receivership started
1923-04-05
Date receivership terminated
1929-02-28
OCC cause of failure
Economic conditions
Share of assets assessed as good
27.5%
Share of assets assessed as doubtful
14.5%
Share of assets assessed as worthless
58.0%

Description

Articles report the First National Bank of Roundup suspended in early 1923, a receiver (C. W./C. A. Greening) was appointed mid-April 1923, assets were liquidated (sale of flour mill, building auction authorized), and a dividend to depositors was paid in March 1925. No article describes a depositor run prior to suspension; sequence is suspension → receivership/liquidation (permanent closure). Dates are taken from newspaper reports; suspension date is approximate based on text suspended several weeks ago.

Events (7)

1. June 11, 1908 Chartered
Source
historical_nic
2. March 1, 1923* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank had ceased business and later required a receiver; articles indicate assets were weak/negligible and negotiable papers rediscounted before closure, implying bank-specific insolvency.
Newspaper Excerpt
C. A. Greening as receiver of the First National bank, which suspended business here several weeks ago.
Source
newspapers
3. April 5, 1923 Receivership
Source
historical_nic
4. April 14, 1923 Receivership
Newspaper Excerpt
Word has been received here of the appointment of C. A. Greening as receiver of the First National bank ... (Roundup, April 14).
Source
newspapers
5. November 14, 1923 Other
Newspaper Excerpt
The Roundup flour mill has been purchased ... from the First National bank. C. W. Greening, receiver of the bank, recently filed a petition for permission to make the sale for $5,000. (Nov. 14, 1923).
Source
newspapers
6. December 6, 1924 Other
Newspaper Excerpt
Judge George A. Horkan ... authorizing Receiver C. W. Greening to sell the bank building and fixtures at public auction on December 19. ... it is understood $18,000 is the minimum figure which will be considered. (Dec. 6, 1924).
Source
newspapers
7. March 19, 1925 Receivership
Newspaper Excerpt
A dividend of $50,000 in cash has just been paid to depositors by the receiver of the failed First National bank of Roundup. (Mar. 19, 1925)
Source
newspapers

Newspaper Articles (11)

Article from The Producers News, April 20, 1923

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Article Text

HARDIN MAN IS NAMED TO GUARD BANK ASSETS Roundup, April 14.-Word has been received here of the appointment of C. A. Greening as receiver of the First National bank, which suspended business here "several weeks ago. Mr. Greening was formerly located in one of the banks of Melstone and recently has been connected with one of the banks in Big Horn county. He represented Big Horn county in the legislature during the last session.


Article from The Bozeman Courier, November 14, 1923

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Article Text

TREASURE STATE BRIEFS Harry McCarthy, alias Shelby, broke jail at Forsyth and got away. The train on the White Sulphur Springs branch rushed into Ringling a few days ago without its coaches, dragging in a blazing box car which was placed in the west end of the yards and there consumed by the flames. The train then returned for the coaches. the hurried trip having been made to avoid the obstacles of a burned car on the track. It is supposed the fire started from a hot box on the car. Information has reached the county attorney and sheriff at Hobson to the effect that turkey thieves are busy in several sections of the county. One instance was reported where a flock of over 70 disappeared during the night. Charged with the crime of robbing the Selvig pool hall at Outlook, when $600 in currency was taken from the safe, Ed Buchanan, prominent farmer living several miles north of Plentywood, was taken into custody by Sheriff Salisbury. The twelfth annual show of the Great Falls Poultry association is to be held January 16-20. Terribly burned when he fell into a bonfire, the 4-year-old son of Mr. and Mrs. Hess of near Chinook, died in spite of all efforts to save him. The stockholders of the Citizens State bank of Roundup, with the aid of the Roundup Coal Mining company have filed articles of incorporation for the organizing of a new bank which will be known as the Roundup State bank. Robbers entered the Haines drug store in Whitefish and got away with merchandise valued at from $700 to $800. The fact of the robbery was kept secret in the hope that the thieves would endeavor to dispose of some of the loot in Kalispell, Spokane or Great Falls and thus be arrested. With the neck broken, the body of Henry L. Locke, a rancher whose place is on McClellan creek, three miles south of East Helena, was found. He was killed when a team of horses he was driving ran away. Scalds from escaping steam caused the death of Bert Tolly, engineer a the Ragged Point oil test near Mel stone. Collapse of the crown plate of the boiler into the firepit filled the en closure in which Tolly was working with steam. The door was directly in line of the outpouring steam and Tolly made a desperate effort to tear down the walls to escape, but failed. Beaverhead county's taxes are being collected, the mails since November having brought many remittances Since that date more tax money ha been taken in by Miss Bertie Mat thews, county treasurer, than in an other similar period. The Roundup flour mill has bee purchased by Scott St. Germain, a we known rancher of Pine Grove district in the Snowy Mountains, from th First National bank, which has owne the property for some time. C. W Greening, receiver of the bank, recent ly filed a petition for permission t make the sale for $5,000.


Article from The Kevin Review, November 15, 1923

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Article Text

TREASURE STATE BRIEFS Harry McCarthy, alias Shelby, broke jail at Forsyth and got away. The train on the White Sulphur Springs branch rushed into Ringling a few days ago without its coaches, dragging in a blazing box car which was placed in the west end of the yards and there consumed by the flames. The train then returned for the coaches, the hurried trip having been made to avoid the obstacles of a burned car on the track. It is supposed the fire started from a hot box on the car. Information has reached the county attorney and sheriff at Hobson to the effect that turkey thieves are busy in several sections of the county. One instance was reported where a flock of over 70 disappeared during the night. Charged with the crime of robbing the Selvig pool hall at Outlook, when $600 in currency was taken from the safe, Ed Buchanan, prominent farmer living several miles north of Plentywood, was taken into custody by Sheriff Salisbury. The twelfth annual show of the Great Falls Poultry association is to be held January 16-20. Terribly burned when he fell into a bonfire, the 4-year-old son of Mr. and Mrs. Hess of near Chinook, died in spite of all efforts to save him. The stockholders of the Citizens State bank of Roundup, with the aid of the Roundup Coal Mining company have filed articles of incorporation for the organizing of a new bank which will be known as the Roundup State bank. Robbers entered the Haines drug store in Whitefish and got away with merchandise valued at from $700 to $800. The fact of the robbery was kept secret in the hope that the thieves would endeavor to dispose of some of the loot in Kalispell, Spokane or Great Falls and thus be arrested. With the neck broken, the body of Henry L. Locke, a rancher whose place is on McClellan creek, three miles south of East Helena, was found. He was killed when a team of horses he was driving ran away. Scalds from escaping steam caused the death of Bert Tolly, engineer at the Ragged Point oil test near Melstone. Collapse of the crown plate of the boiler into the firepit filled the enclosure in which Tolly was working with steam. The door was directly in line of the outpouring steam and Tolly made a desperate effort to tear down the walls to escape, but failed. Beaverhead county's taxes are being collected, the mails since November 1 having brought many remittances. Since that date more tax money has been taken in by Miss Bertie Matthews, county treasurer, than in any other similar period. The Roundup flour mill has been purchased by Scott St. Germain, a well known rancher of Pine Grove district, in the Snowy Mountains, from the First National bank, which has owned the property for some time. C. W. Greening, receiver of the bank, recenty filed a petition for permission to make the sale for $5,000.


Article from The Kevin Review, November 22, 1923

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Article Text

Treasure State News In Tabloid Review The grain judging team of Montana tate college won first place at the Northwest Grain and Hay show at 'ortland. This team of three State ollege students competed against eams from other agricultural colleges f the northwest. At the Pacific Inernational Livestock show, held in onnection with the hay and grain how, Miss Helen Noble of Great Falls laced sixth among more than two core livestock judges from northwestrn agricultural colleges. Mr. and Mrs. Walter Askew have eturned, to Missoula from a hunting rip into the country east of Seeley ke. They went out in the hope that ey might get an elk-and they came ack with four black bears. The unters accidentally ran onto a godzed bear and three half-grown cubs. Irs. Askew brought down the big ear and one of the cubs, while her usband shot the other two. The old ear weighed between 250 and 400 'spuno The Roundup flour mill has been urchased by Scott St. Germain, a well hown rancher of Pine Grove district, the Snowy Mountains, from the irst National bank, which has owned e property for some time. C. W. reening, receiver of the bank, recentfiled a petition for permission to ake the sale for $5,000. After prolonged discussion the city uncil of Deer Lodge has decided to it into effect next tourist season a arge of 50 cents on the first day for I tourists making use of the city mp grounds and a charge of 25 cents r every succeeding day of their stáy. John W. Shryock has been appointed succeed the late W. M. Briggs as a ember of the board of county comssioners of Lewis and Clark county, e appointment having been made by dges W. H. Poorman and A. J. Two rsky. thousand seven hundred venty of the country's 441,000 deer e in Jefferson national forest, ac-ding to Supervisor W. E. Willey. her animals in the Jefferson forest e 88 elk, 18 mountain sheep and 180 ars. Northern Montana's third annual n show will be held in Roosevelt inty in November, 1924, it was deed prior to the closing of the second


Article from The Circle Banner, November 23, 1923

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Article Text

# TREASURE STATE BRIEFS Harry McCarthy, alias Shelby, broke jail at Forsyth and got away. The train on the White Sulphur Springs branch rushed into Ringling a few days ago without its coaches, dragging in a blazing box car which was placed in the west end of the yards and there consumed by the flames. The train then returned for the coaches, the hurried trip having been made to avoid the obstacles of a burned car on the track. It is supposed the fire started from a hot box on the car. Information has reached the county attorney and sheriff at Hobson to the effect that turkey thieves are busy in several sections of the county. One instance was reported where a flock of over 70 disappeared during the night. Charged with the crime of robbing the Selvig pool hall at Outlook, when $600 in currency was taken from the safe, Ed Buchanan, prominent farmer living several miles north of Plentywood, was taken into custody by Sheriff Salisbury. The twelfth annual show of the Great Falls Poultry association is to be held January 16-20. Terribly burned when he fell into a bonfire, the 4-year-old son of Mr. and Mrs. Hess of near Chinook, died in spite of all efforts to save him. The stockholders of the Citizens State bank of Roundup, with the aid of the Roundup Coal Mining company have filed articles of incorporation for the organizing of a new bank which will be known as the Roundup State bank. Robbers entered the Haines drug store in Whitefish and got away with merchandise valued at from $700 to $800. The fact of the robbery was kept secret in the hope that the thieves would endeavor to dispose of some of the loot in Kalispell, Spokane or Great Falls and thus be arrested. With the neck broken, the body of Henry L. Locke, a rancher whose place is on McClellan creek, three miles south of East Helena, was found. He was killed when a team of horses he was driving ran away. Scalds from escaping steam caused the death of Bert Tolly, engineer at the Ragged Point oil test near Melstone. Collapse of the crown plate of the boiler into the firepit filled the enclosure in which Tolly was working with steam. The door was directly in line of the outpouring steam and Tolly made a desperate effort to tear down the walls to escape, but failed. County taxes are being collected, the mails since November 1 having brought many remittances. Since that date more tax money has been taken in by Miss Bertie Matthews, county treasurer, than in any other similar period. The Roundup flour mill has been purchased by Scott St. Germain, a well known rancher of Pine Grove district, in the Snowy Mountains, from the First National bank, which has owned the property for some time. C. W. Greening, receiver of the bank, recently filed a petition for permission to make the sale for $5,000.


Article from The Producers News, March 7, 1924

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SEN. GREENING ARRESTED FOR PERJURY Hardin.-On a charge of perjury, State Senator C. W. Greening of Big Horn county was arrested in connection with the affairs of the defunct Hardin State bank, as was Bert Rarey, both being former vice presidents of the institution. A complaint also was filed in justice court and a warrant issued for Henry Skaug, former cashier, who recently has been a deputv state examiner. All three of these men are charged with perjury alleged to have been committed when they swore to their true worth in connection with a surey bond given by them to the county treasurer of Big Horn county as security to the county for the money deposited from time to time by the county treasurer in the Hardin State bank. In addition to these charges there is a charge of grand larcenv placed against Mr. Rarey by J. R. Boyd of Wyola in the sum of $1,500 alleged to have been taken on September 20, 1922. Senator Greening was arrested at Roundup where he is receiver of the First National bank of that city, and gave bond to appear in district court. Rarey was located at Columbus, Ohio, (where he has been employed in a bank the past year) through the efforts of Sheriff Gilmore, who wired the chief of police to put him under arrest. He refused to return to Montana without requisition papers and County Attorney Haven went to Helena, where the necessary papers were issued by Governor Dixon. On his return to Hardin, County Attorney Haven turned the papers over to Undersheriff John H. Kifer. who left on the sâme train for the east. It is expected that he will return with Rarey this week.


Article from The Producers News, December 12, 1924

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TRYING TO CLOSE RECEIVERSHIP OF ROUNDUP NATIONAL Depositor Petition To Have Defunct Bank Consolidate Receivers.-Petions Are Sent To Walsh, But Are Ignored By That Gentleman. BANKS ARE RIFLED BEFORE THEY CLOSED Roundup, Dec. 6.-What is regarded as the first definite step toward the closing up of the receivership of the defunct First National Bank of RcJundup has been taken in the PROFESSIONAL form of a court order, isued by Judge George A. Horkan, authorizing Receiver C. W. Greening to sell the bank building and fixtures at IRECTORY public auction on December 19. D It is understood that more than one bidder is expected to be present and that $18,000 is the minimum figure which will bₑ considered. The building is now occupied by the Min. ers and Merchants bank under a lease which will expire in November, 1925, S. E. Paul and it is certain that the Miners and Merchants will be one of the bidders at the sale MAY COMBINE Attorney-At-Law RECEIVERSHIP There is a rumor which bears some Practice In All Courts appearance of authenticity that the receiverships of the First National United States and Roundup National are to be comCommissioner bined. It has been a matter of common knowledge for some time that Plentywood, Mont. the assets of the Roundup National are practically nothing, all negotiable papers having been redisccunted before the bank closed, and it is not generally believed that sufficient colCAFE POOL HALL lections are being made to pay the salary of the receiver. BARBER SHOP Petitions by depositors requesting that the receiverships of the two H. A. Burnham Barber banks be combined were sent to the comptroller many months ago and JONESJ& OLSON, Prop their receipts were acknowledged by Comertown, Mont. Senator T. J. Walsh, who presented them, but no action was taken and no recognition given the plea of the depositors.


Article from Roundup Record-Tribune, March 12, 1925

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DIVIDEND NOTICE. Checks for first dividend of the First National bank, Roundup, are now ready for distribution. Holders receiver's certificates should pear person at the office of present certificate and


Article from News-Herald, March 12, 1925

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Bank Merger Completed Assets of the First National bank Musselshell have been taken over and Merchants bank Miners the the being Roundup, The pleted recently. carried $100,000 deposits. stitution cashier of the MusselDundas, shell bank, becomes cashand Merchants and the Miners liquidating agent will also due in the accounts the Baker will National bank. First assistant cashier remain miners and the


Article from The Kremlin Chancellor, March 13, 1925

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Bank Merger Completed the First National bank of Assets of Musselshell have been taken and Merchants bank the Miners the transaction being Roundup, The Musselshell pleted recently. carried $100,000 in deposits. stitution cashier of the MusselDundas, becomes assistant cashshell bank, Miners and Merchants and the agent in also act as liquidating due the collecting of accounts the Baker will First National bank. assistant cashier also remain as an miners and Merchants. the


Article from The Denton Recorder, March 19, 1925

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Bank Receiver Pays Dividend A dividend of $50,000 in cash has just been paid to depositors by the receiver of the failed First National bank of Roundup.