11556. First National Bank (Stevensville, MT)

View Charter #10709 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
10709
Charter Number
10709
Start Date
February 28, 1925
Location
Stevensville, Montana (46.510, -114.093)

Metadata

Model
gpt-5-mini
Short Digest
68a55b38

Response Measures

None

Receivership Details

Depositor recovery rate
85.8%
Date receivership started
1925-03-02
Date receivership terminated
1928-10-25
OCC cause of failure
Economic conditions
Share of assets assessed as good
24.2%
Share of assets assessed as doubtful
72.6%
Share of assets assessed as worthless
3.3%

Description

The bank voluntarily failed to open doors Feb 28/Mar 2, 1925 to permit liquidation or reorganization; multiple articles explicitly state there was no run. A legal notice (June/July 1925) refers to Swan, as Receiver of the First National Bank of Stevensville, indicating a receiver was later appointed and the bank did not resume normal operations.

Events (4)
1. February 23, 1915 Chartered
Source
historical_nic
2. February 28, 1925 Suspension
Cause
Voluntary Liquidation
Cause Details
Voluntary failure to open to permit liquidation or reorganization; reported deposits ~$100,000 and capital $25,000.
Newspaper Excerpt
The First National Bank of Stevensville failed to open its door this morning. This action was voluntary and was to permit either liquidation or reorganization.
Source
newspapers
3. March 2, 1925 Receivership
Source
historical_nic
4. June 25, 1925 Receivership
Newspaper Excerpt
The First National Bank of Stevensville, Swan, as Receiver of the First National Bank of Stevensville, corporation, ... (Writ dated 25th day June, 1925).
Source
newspapers

Newspaper Articles (11)
1. February 28, 1925 The Missoula Sentinel Missoula, MT
Article from The Missoula Sentinel, February 28, 1925

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Article Text

BANK IN VALLEY FAILS TO OPEN First National of Stevensville Closes; No Run and No Excitement. Stevensville, Feb. First National Bank of Stevensville failed to open its door this morning This action was voluntary and was permit either liquidation or reorganization. The deposits are estimated at about $100,000 and the capital stock is run on the $25,000. There was bank. is said that the loss to depositors if any, will be small. Possibly it will be found that the assets more than balance the liabilities. The First National bank was organized twelve years ago by Elmer Johnson, who president, and his ed father, August Johnson, rancher of near Havre. The two Johnsons own most of the stock in the bank. John for G. Howe is vice president and Emmett cashier. These officers, Cherry with B. Lidell and Henry Lockridge, form the board of directors. All of these men stand high in the community and there is no suspicion of anything improper avoidable closing of the bank. the There is no excitement here and the people are taking the incident philosoanother the Stevensville has There has been no run First State. its position is accepted as of on it and strong.

2. March 1, 1925 The Daily Missoulian Missoula, MT
Article from The Daily Missoulian, March 1, 1925

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Article Text

FIRST NATIONAL BANK IN VALLEY IS CLOSED Institution at Stevensville Fails to Open Doors. Stevensville, Feb. 28.-Special.-The First National Bank of Stevensville failed to open its door this morning. This action was voluntary and was to permit either liquidation or reorganization. The deposits are estimated at about $100,000 and the capital stock is $25,000. There was no run on the bank. It is said that the loss to depositors, if any, will be small. Possibly it will be found that the assets more than balance the liabilities. The First National bank was organized twelve years ago by Elmer Johnson, who is president, and his father, August Johnson, a rancher of near Havre. The two Johnsons own most of the stock in the bank. John G. Howe is vice president and Emmett Cherry is cashier. These officers, with B. B. Lidell and Henry Lockridge, form the board of directors. All of these men stand high in the community and there is no suspicion of anything improper or avoidable in the closing of the bank. There is no excitement here and the people are taking the incident philosophically. The town of Stevensville and the county of Ravalli were both depositors in the First National bank, but bonds were furnished guarantee the amounts to their credit. The bank was organized about 13 years ago as the Farmers' State bank, but later it was changed to the First National. There is one other banking institution in the town, the First State bank, organized 20 years ágo. In speaking on the effect of the closing of the First National bank, President L. W. Oberhauser of the First State bank said tonight that there had been no run on the First State bank as result of the voluntary closing of the other institution. "We had expected there might be a slight run but there was not single withdrawal. A school boy who had a avings account drew out $1.68 which he said he needed complete the purchase of a pair of school shoes. "We regret very much that the other institution has closed and were a little surprised when we did not have at least a few withdrawals. Depositors have assured us of their loyalty and confidence.' The First State bank has a capital stock of $40,000 and its deposits now are nearly a quarter of a million.

3. March 3, 1925 The Daily Inter Lake Kalispell, MT
Article from The Daily Inter Lake, March 3, 1925

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Article Text

Mrs. Dan Doody of Doody. Montana, was here on business Friday. Frank Tompkins of Helena, chief estimator and civil engineer for the Northern Pacific Railroad, was in town Saturday en route to his home from St. Paul. About 12 years ago Mr. Tompkins was located here and at Mr. and Mrs. H. B. Sharrar came in from Rexford Saturday. Ray Johnson and family of Cut Bank will be guests at the home of Mr. Johnson's brother. Dr. Johnson and family. for few days. Mr. and Mrs. E. E. Schoonover returned from a several months' soJourn in Cuba, spending a large part of the time with Mr. and Mrs. James A. Parsons, who have charge of the Oriental race park there. Mrs. Schoonover and Mrs. Parsons are sisters. Mr. and Mrs. Parsons and family are well known in northern Montana and will be remembered as especially fine riders. Mr. and Mrs. Schoonover visited Moro Castle, which is now the West Point of Cuba, Fort Cabanas and other points of historical interest. They say it is a wonderful place to visit but were glad to get back to Montana. Mr. and Mrs. Schoonover returned to the United States on the steamship Northland. Mr. and Mrs. Charles Swaney of Depew spent the week-end with friends in Whitefish Mrs. Frank Cochran is spending several days in Great Falls with Mr. STEVENSVILLE BANK SUSPENDS PAYMENT (By Associated Press) Stevensville, Mar 2.-The First National Bank of Stevensville failed to open its doors Saturday morning. This action was voluntary and was to permit either liquidation or reorganization. The deposits are estimated at about $100,000 and the capital stock is $25,000. There was no run on the bank It is said that the loss to depositors, if any, will be small. Possibly it will be found that the assets more than balance the liabilities. The First National bank was or ganized twelve years ago by Elmer Johnson, who is president, and his father, August Johnson, a rancher of near Havre. The two Johnsons own most of the stock in the bank. John G. Howe is vice president and Emmett Cherry is cashier. These officers, with B. B. Lidell and Henry Lockridge, form the board of directors. All of these men stand high in the community and there is no suspicion of anything improper or avoidable in the closing of the bank. There is no excitement here and the people are taking the incident philosophically. There is one other banking institution in the town, the First State bank, organized 20 years ago, In speaking on the effect of the closing of the First National bank, President L. W Oberhauser of the First State bank said tonight that there had been no run on the First State bank as a result of the voluntary closing of the other institution.

4. March 4, 1925 The Butte Daily Post Butte, MT
Article from The Butte Daily Post, March 4, 1925

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Article Text

Beaverhead MONTANA A News Review of State CATTLE RUSTLER GETS STIFF SENTENCE LEWISTOWN. Forest Wheeler, who was tried jury charge stealing steers, was found guilty and fixed one to two years in the state prison. BANK AT STEVENSVILLE ENDS CAREER The First National bank of Stevensville failed open its doors Monday. action and was to permit either liquidation or at about The are and the capital stock $25,run the bank. 000. There was said will will be small. any. the assets more than found that balance the liabilities. JARDINE RAISES MONEY FOR MEN that Jardine residents through subscription circulated that vicinity had raised sum of $531 for the victims of an unfortunate hunting trip, was brought to Livingston Monday by Bacorn of the Jardine Mining company. The money will be given to Peter Anderson William Weaver, who suffered the amputation of hands feet as the result of the harrowing experience last day of the hunting season in 1924, when they were caught out in blizzard in the that he had shot his windshield on his Ford. hapthat the from shining which he for coyote. of the argument that does not what color anieyes are at any time, day night. TO BE DIPPED VET'S ORDER VIRGINIA has been covered that nearly all the herds cattle in the Ruby valley are afflicted with surgeon from the office in Helena has ordered the three one to be placed at Twin Bridges, at Alder at These vats are to be buflt at he of the but the the cattle will be required to pay cents head per dipping for each animal dipped.

5. March 12, 1925 The Lima Ledger Lima, MT
Article from The Lima Ledger, March 12, 1925

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Article Text

The First National bank of Stevensville falled to open Its doors recently. This action was voluntary and was to permit either liquidation or reorgantzation. The deposits are estimated at about $100,000 and the capital stock is $25,000. There was no run on the bank.

6. March 12, 1925 The Yellowstone Ballantine, MT
Article from The Yellowstone, March 12, 1925

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Article Text

The First National bank of Stevensville failed doors recently. This action voluntary and permit either liquidation zation. The deposits estimated and the capital There the bank. no

7. March 13, 1925 The Sidney Herald Sidney, MT
Article from The Sidney Herald, March 13, 1925

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Article Text

First National bank of Stevensville failed open its doors This action voluntary and permit either liquidation or reorganization. The deposits are estimated about and the capital stock no on the bank.

8. March 13, 1925 The Ismay Journal Ismay, MT
Article from The Ismay Journal, March 13, 1925

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Article Text

The First National bank of Stevensville failed to open Its doors recently. This action was voluntary and was to permit either liquidation or reorganization. The deposits are estimated at about $100,000 and the capital stock is $25,000. There was no run on the bank.

9. March 13, 1925 The Roundup Record Roundup, MT
Article from The Roundup Record, March 13, 1925

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Article Text

The First National bank of Stevensville failed to open Its doors recently. This action was voluntary and was to permit either liquidation or reorganization. The deposits are estimated at about $100,000 and the capital stock is $25,000 There was no run on the bank.

10. March 20, 1925 The Winifred Times Winifred, MT
Article from The Winifred Times, March 20, 1925

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Article Text

The First National bank of Stevensville failed to open its doors recently. This action was voluntary and was to permit either liquidation or reorgantzation. The deposits are estimated at about $100,000 and the capital stock is $25,000. There was no run on the bank.

11. July 17, 1925 The Roundup Record Roundup, MT
Article from The Roundup Record, July 17, 1925

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Article Text

Legal Notices SUMMONS FOR PUBLICATION. In the District Court the Fifteenth Juthe State Montana, in and for the of Augusta M. Frey, Plaintiff, Sarah Dempster widow James Dempster, ceased, Musselshell Valley Farm Loan Com pany, corporation. and Kathryn M. Moss, his wife, The First NationBank and Swan, as Receiver of the First National Bank of The State corporation, Defendants. Montana to the above-named Defendants, GREETING: You are hereby this to answer the action file the office of the of this Court, copy which herewith served upon you, and file your answer and serve copy thereof upon the Plaintiff's attorney within twenty the of Summons, clusive of the day and in of your failure to appear judgment will be demanded taken against you by default for the in the complaint. That the entitled action is brought for the certain real estate date the 1st day of D. 1916, made, executed and by the above named defendant, Sarah A. Dempster, widow of James B. Dempster, deceased, mortgagor, to Musselshell Valley Farm Loan Company, mortgagee, which said was duly filed for 13th day of D. 1916, at the hour of 1:20 o'clock said day, the office of the County Clerk and Recorder County, Montana, and recorded Book of on page 66 thereof that the making, and delivery of said real estate mortgage, and prior to the of this due course of business and for good and consideration, said mortgage was duly sold, over and transferred to the plaintiff, and since said named sale, endorsement plaintiff and the abovehas been and the owner and holder said mortgage that the said mortgage covers the following described property, The Quarter (SW)/4) Section Twenty (20), in Township Eight (8) North, of Range (24) East of 160 Montana Principal Meridian, taining acres more or less, the Government Survey thereof,' in Musselshell County, Montana: and for the further purpose of from the said defendant mortgagor, James B. Dempster, Sarah Dempster Harry D. Moss and Kathryn M. Moss, his wife, the sum with interest thereon at the rate per from November 1, 1923 $56.00 10% with at the rate $800.00 with at the rate 1924 7% per from November 1924 $91.25, for taxes paid, together with interest thereon at the rate of 12% per annum from April 1925, abstract title fees, cost filing notice pendens and costs suit and for the further pose of obtaining decree of the above pur- entitled court foreclosing all of the rights, liens, claims and interests, if any, the abovenamed defendants, Musselshell Valley Farm Loan Company, corporation, The First National M. Bank of Stevensville, Swan, as Receiver of The First NationBank Stevensville, corporation, and each them, including the right or rights of redemption of all the defendin and to said real property, and for such other and further relief as the may seem meet and equitable in the premises, plaintiff's all more_fully appears from the complaint on file herein, reference to which is hereby made. this WITNESS my hand and seal of said Court 25th day June, 1925. (SEAL) By Water F. Elmen, Hildebrand Warren, Attorneys for Deputy. Plaintiff, Glendive, Montana. (First pub. June 26) CERTIFICATE F. A. Pribyl hereby that carrying on and conducting business under the firm name and style Roundup Auto Supply and Wrecking Company. That the principal is the City Roundup, Montana. That the residence of the said Montana. Pribyl in the said City of Roundup, F. A. PRIBYL. State of Montana, County of Musselshell-s On the 23rd day of June, A. D. 1925, before Maris, Notary Public for State of Montana, personally appeared whose Pribyl, name known subscribed me to be the person the instrument. executed the and acknowledged to me that he same. Subscribed and sworn to before me the day year first above (SEAL) F Notary Public for the State of Montana, residing at My expires April 10, 1928. (First pub. June 26)