First State Bank - Vida, MT

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: October 1, 1931*
Location: Vida, Montana (47.832, -105.493)

Metadata

Model: gpt-5-mini
Short Digest: 090882a2

Response Measures

Full suspension, Books examined

Description

Article reports a temporary closure in October 1931 when depositors agreed not to withdraw (a depositor run/pressure) and the bank reopened. In November 1932 the bank was forced to close and placed in hands of the state banking department with a liquidating agent (permanent closure/receivership). Primary cause of final suspension was collapse in farm commodity prices (local agricultural shock).

Events (3)

1. October 1, 1931* Run

Cause: Local Shock
Cause Details: Temporary October 1931 closure prompted by heavy withdrawals/depositor pressure; related to weak farm economy and local conditions.
Measures: Depositors signed agreements not to withdraw; bank resumed operations.
Newspaper Excerpt: the bank closed temporarily in October 1931, but was able to reopen after a few days. At that time depositors signed agreements not to withdraw their money from the bank.
Source: newspapers

2. November 11, 1932 Receivership

Newspaper Excerpt: is now in the hands of the state banking department, with Rodney H. Kurth, liquidating agent in charge.
Source: newspapers

3. November 11, 1932 Suspension

Cause: Local Shock
Cause Details: Severe drop in farm commodity prices made loan payments impossible, forcing suspension and liquidation by state banking department.
Newspaper Excerpt: The First State Bank of Vida was forced to close its doors a few days ago and is now in the hands of the state banking department, with Rodney H. Kurth, liquidating agent in charge.
Source: newspapers

Newspaper Articles (1)

1. November 11, 1932 The Wolf Point Herald Wolf Point, MT

Article from The Wolf Point Herald, November 11, 1932

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Article Text

ELECTION SIDELIGHTS Five men were killed in Ken(Continued on page 3) VIDA BANK CLOSES The First State Bank of Vida was forced to close its doors a few days ago and is now in the hands of the state banking department, with Rodney H. Kurth, liquidating agent in charge. It will be recalled that the bank closed temporarily in October 1931, but was able to reopen after a few days. At that time depositors signed agreements not to withdraw their money from the bank. The bank resumed operations and was to pay the depositors 20% this Fall, 30% in 1933 and 50% in 1934. This plan would probably have been succesful under normal conditions, but it could not have been anticipated that farm commodity prices would drop SO low as they have this year. Payments on loans were out of the question, and hence the bank, after serving the Vida community well and faithfully for many years, has been forced to suspend.