11573. First National Bank (Valier, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
9520
Charter Number
9520
Start Date
March 4, 1933
Location
Valier, Montana (48.308, -112.250)

Metadata

Model
gpt-5-mini
Short Digest
201d8582

Response Measures

None

Receivership Details

Depositor recovery rate
12.0%
Date receivership started
1933-10-25
Date receivership terminated
1939-12-21
Share of assets assessed as good
71.8%
Share of assets assessed as doubtful
23.2%
Share of assets assessed as worthless
5.1%

Description

The bank was closed by order of the Federal Banking Department during the 1933 banking holiday (not a depositor run). A receiver was appointed in late Oct 1933 (article dated 1933-11-02 refers to receiver taking duties 'last Thursday'), the receiver later resigned (May 1934) and a new receiver was consolidated with the Conrad bank in early June 1934. No article describes a depositor run; the institution remained in receivership/closed.

Events (7)

1. August 26, 1909 Chartered
Source
historical_nic
2. March 4, 1933 Suspension
Cause
Government Action
Cause Details
Closed by order of the Federal Banking Department during the March 1933 banking holiday.
Newspaper Excerpt
Kester...has been in charge of the institution since March 4th when the banking holiday called.
Source
newspapers
3. October 25, 1933 Receivership
Source
historical_nic
4. October 26, 1933 Receivership
Newspaper Excerpt
Attorney E. Sweitzer received the appointment receiver for the First National Bank of Valier and took the duties of same last Thursday.
Source
newspapers
5. May 17, 1934 Other
Newspaper Excerpt
Sweitzer has sent in his resignation as Receiver of the First National Bank of Valier and another appointment will be made ... Sweitzer found that he was sacrificing law business in trying discharge his duties properly.
Source
newspapers
6. June 1, 1934 Receivership
Newspaper Excerpt
Kivilin...appointed receiver the First National Bank Valier, and assumed charge of the bank last Thursday morning.
Source
newspapers
7. June 7, 1934 Other
Newspaper Excerpt
Resolution...Pondera county has certain deposits in the First National Bank of Valier, Montana, which has been closed by order of the Federal Banking department of the United States and proof of claim for said deposits has not been filed with the receiver of the said bank.
Source
newspapers

Newspaper Articles (4)

Article from Pondera County News, November 2, 1933

Click image to open full size in new tab

Article Text

VALIER BANK TO RECEIVERS Attorney E. Sweitzer. received the appointment receiver for the First National Bank of Valier and took the duties of same last Thursday. Kester, founder and president the past twenty years, has been charge of the institution since March 4th when the banking holiday called. the closing First National Banks at Valier and Conrad during the past week and the Brady bank, which has been closed for sevmonths, only two banks are left in Pondera county. one Williams and the Farmers State Bank in Conrad.


Article from Independent-Observer, May 17, 1934

Click image to open full size in new tab

Article Text

RESIGNS AS VALIER BANK RECEIVER Sweitzer has sent in his resignation as Receiver of the First National Bank of Valier and another appointment will be made at Mr. Sweitzer found that he was his sacrificing law business in trying discharge ship duties properly and hereafter will be fouod in his law office takcare of his practice.


Article from Pondera County News, June 7, 1934

Click image to open full size in new tab

Article Text

Proceedings Of Commissioners Regular Meeting of the Board of County Commissioners Held May 7 8, 9, and Extra Session, May 10 (Continued from last week) Order Regarding Sullivan Hill Project-Since FERA plans to complete Sullivan Hill project on the ValierCut Bank road at a total cost of $2,631 20 for labor and materials has been approved by the proper committee, it was ordered on motion of commissioner Brophy, seconded by commissioner Berland and motion duly carried, that Pondera county will cooerate in this work at a total expense to Fondera county of no more than $340. Said expenses being itemized as follows: Engine expense, $80; truck expense, $85; fence posts, $25; planks, $40; dynamite, $110. Resolution Re Deposits, First National Bank, Valier-On motion of commissioner Brophy. seconded by commissioner Berland and motion duly carried, it was ordered that the following resolution be spread on the minutes of this meeting: Resolution-"Being as the county of Pondera has certain deposits in the First National Bank of Valier, Montana, which has been closed by order of the Federal Banking department of the United States and proof of claim for said deposits has not been filed with the receiver of the said bank, "It is hereby ordered, that the treasurer of Pondera county is hereby instructed to obtain ipoof of claim blanks from the receiver of the First National Bank of Valier, and file a proof of claim covering the Pondera county funds on deposit in said bank with the receiver of said bank. Cottonwood County, Minn. School District Bonds- motion of commissioner Berland. seconded by commissioner Brophy and motion duly carried. it was ordered that the following resolution be spread on the minutes of this meeting: Resolution-"It having been called to the attention of the commissioners of Pondera county, that there is an investment of he sinking funds of Pondera county in certain bonds of consolidated school district number 50, of Chttonwood county, Minnesota, in the sum of $8,000. and that said consolidated school district is negotiating for the right to pay 50 percent of said bonds, and issue blonds for the $4.000 balance thereon, Therefore, it is hereby ordered, that the county treasurer of Pondera county is hereby ordered to negotiate with the dinsolidated school district number 50 of Cottonwood county, Minnesota, for a settlement of said bonds in the sum of $8,000 and he is empowered to accept $4,000 cash on said bonds and to accept $4.000 in new bonds for the balance thereon. Rejection of Tractor Bids-Pursuant to notice duly published, sealed bids were received and examined by the board covering the furnishing to Pondera county of a 35 h p. crawler type engine. On motion of commissioner Brophy. seconded by commissioner Berland and motion duly car ried, it was ordered that all bids on Order Re: Purchase of Tractor-It was ordered that the county commissioners of Pondera county purchase for the use of the Pondera county highway department. one 75 h. crawler type tracter Same to be equipped with full Diesel motor, six cylinder type with removable sleeves engine revolutions not more than 850 p. m., weight not less than 31.50 pounds. width of tracks, 22 inches to be purchased on terms of onethird payable, July 5. 1934 and th balance of deferred payments payable Dec. 5, 1934. It was further ordered that the clerk of the board publish notices whereby sealed bids are to be submitted to th board of county commissioners on the furnishing of this said tractor. All of said sealed bids to be submitted for the consideration of the board at the county commissioners room at Conrad, Montana no later than 10 o'clock a. m., on Wednesday, June 6, 1934 The board reserves the right to reject any and all bids. Rent Discontinued-It was ordered that the rent allowance of $6 per mo., of R. D: Nightengale be discontinued same to take effect at once Claims Presented and ApprovedThe following claims were presented and approved: General Fund Salaries for April, 1934 L. Rachac, clerk and recorder, $166.66 Max J. Rachac, deputy clerk and recorder. $137.50. Farmers St. Bank, Conrad, assignee, Hazel Johnson, steno., clerk and recorder, Hazel Johnson, same, $35. Marion Becwar, same, $85. F. D. Kingsbury, treasurer, $166.66 Farmers St. Bank, Conrad, assignee, Leva Robinson, dep. treas., $137.50. Irene Fogelsong, clerk, treas., $75. Farmers St. Bank, Conrad, assignee, E. L. Severtson, $150 Farmers St. Bank, Conrad, assignee, Albert Severtson, dep. assessor, $120. E. L. Alquist. dep. assessor, $120. Farmers St. Bank, Conrad, assignee, R M. Whitmore, clerk, assessor, $42.50 C. H. Shepherd, clerk dist. ct., $150 Daisy Wolverton, steno., clerk court, $10.50 C. M. Embody, sheriff, $187.50. E. D. Furstnow, under sheriff, $150. A. O. Hammer, dep. sheriff, $137.50 Farmers St. Bank, Conrad, assignee, H. H. Hullinger, attorney, $75 Daisy Wolverton, steno., attorney, $50. K. J. Smith. janitor, $75. Dr. C. D. Powell, health officer, $43.- 75. Leona L. Reinelt, supt. of schools, $166.66 Gertrude Gourley, steno. supt. of schools, $85 Farmers St. Bank, Conrad, assignee, A. C. Peterson, county agent, $66.66. Charlotte Thompson, steno. county agent. $70 Peoples Fin. and Thrift Co., assignee A. A. Pelletier, court reporter, $68.4 Miscellaneous Items School dist 54, 1st payment penalty and interest, del. taxes, $117.66. School dist. 31, 2nd payment penalty and interest. dei. taxes, $229 School dist 8, 2nd payment penalty and interest, del. taxes, $109.3 School dist. 6, 2nd payment penalty and interest del. taxes, $84.34. School dist. 10, 2nd payment, penalty and interest del. taxes, $2,874.69 School dist. 12. 2nd payment penalty and interest, del. taxes, $197.61 West Publishing Co., books judge, $15. Conrad Transfer and Ice Co., drayage, $1. Monsanto Chemical Co., gopher poison, $11.25. Chas. L. Huisking and Co., same, State Publishing Co., 1 set advance $2. Pondera Drug Co., supplies, $10.58 H. W. Conrad, rent office bldg., $62.- 50. N. W. States Utilitie Co., gas, $75.96. City of Conrad rent, $175. Conrad City water dept.,. water, $4.- 60. R. W. Petter, labor court house, 25 Conrad Merc. Co., rent offices, $75. Conrad Merc. Co., supplies offices, $1.78 A. N. Sluys, hauling rubbish, $3. Montana Power, lights co. agent, $3.20. Mont. Power, lights court house, $31 58 West Publishing Co., books, attorney, Georgina H. Whipps, supreme court opinions, $9 T. P. Stokes, witness Hunt case, $4.30. Mrs Baker, witness and mileage, Hunt case, $4.16 H. Norley. juror Hunt case, $1.50. O. V. McCby. juror Morgan case, F. C. Robertson, same, $1.50. J. F. Kane, came, $1.50. Joe Favot, same, $1 50. Tom Durnell. witness, mileage, Morgan case, Ed Beard. juror Morgan case, $1.50. Addressograph Sales Agency, addressograph supplies, $5.10. E. E. Reinelt, checking Pondera CO. tax deeds, $14. A. L. Rachac, mileage and expense. $11.50. A. L Rachac, posting notices of election, $47.36. A. L. Rachac, petty cash, $198.11. Western Union Tel. Co., telegrams, $12.58. Chronicle Publishing Co., publishing notices, $8. J. F. Leech, per diem, drawing puror's lists, $21.04 Hondera County News, publishing notices, $4.20. Independent Observer, printing and supplies, $110.05. Tribune Printing and Supply Co., supplies. Tribune Print and Supply Co., suplies, Automobile Publishing Co., motor tax price bulletins, $6. E. Lorraine Alquist, mileage, expense, $15.54. E. L. Severtson, same. $49.98. H. P. Harrington, dep. assessor, $30. Burroughs Add. Machine Co., supplies, $4.45 C. M Embody, special undercover work, $10. C. M. Embody, board prisoners, $11. 63 C. M. Embody, mileage and expense, $18.81. C. M. Embody same, $7.22. Lyda Alquist, salary emergency crop production work, $85 Alice Sandknop, clerical work RFC, $20. E. R. Alquist, reemployment manager, $50 Jas. J. Brett, state examiner's fees, 1934, $175. Mt. States Tel. and Tel. Co., telehone bill, $74.66 The Valerian, printing notices, $11.30. Walter M. Brophy, salary bd county commissioners and mileage, $34.66. Henry Berland, same, $33.96. (Continued next week)


Article from The Mountaineer, June 7, 1934

Click image to open full size in new tab

Article Text

KIVILIAN APPOINTED AS VALIER BANK RECEIVER Kivilin, who has been receiver of the First National Bank of Conrad since that institution was thrown inliquidation by the national banking department several months last week appointed receiver the First National Bank Valier, and assumed charge of the bank last Thursday morning. After the resignation of E. Sweitzer, who was first appointed reeciver the local bank, the banking department at the suggestion of the depositors' committee of the Valier bank, and in the interest of economy and ficient consolidated the receivership of the two Pondera counbanks and Kivilin in charge. Mr. Kivilin is an experienced business man and banker, and has handled the affairs of the Conrad bank to the entire satisfaction of the patrons of that institution. Those interested the welfare of the local banking institution are well pleased that Mr KivIlin has taken charge of the business here, and feel that possible will be done to protect the interests depositors and Valier-