First National Bank - Whitefish, MT

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 8589
Charter Number: 8589
Start Date: March 21, 1929
Location: Whitefish, Montana (48.411, -114.338)

Metadata

Model: gpt-5-mini
Short Digest: c57cf313

Response Measures

Accommodated withdrawals, Public signal of financial health

Other: Cash (silver and currency) brought from Kalispell and Spokane to meet withdrawals.

Description

Multiple contemporaneous papers (Mar 22–28, 1929) describe a short-lived run caused by unfounded rumors. The bank paid demands, brought specie from Kalispell and Spokane, and withdrawals were largely redeposited; there is no mention of suspension or closure.

Events (2)

1. March 9, 1907 Chartered

Source: historical_nic

2. March 21, 1929 Run

Cause: Rumor Or Misinformation
Cause Details: Run triggered by unfounded/local rumors about the bank's solvency; described as founded on and foolish rumors and no true foundation for the rumors.
Measures: Bank paid all demands; supply of silver and currency brought up from Kalispell and arrangements made to secure additional funds from Spokane; many withdrawn funds were later redeposited.
Newspaper Excerpt: Unfounded rumors are said to have been the cause which started a run on the First National bank...A steady stream of depositors was at the bank yesterday withdrawing their deposits.
Source: newspapers

Newspaper Articles (3)

1. March 22, 1929 Whitefish Independent Whitefish, MT

Article from Whitefish Independent, March 22, 1929

Click image to open full size in new tab

Article Text

STARTS Unfounded rumors said to have the cause which started the First National bank this yesterday morning. made Vice President Jennings Independent afterwere the effect that there no true the numerous that been culated and that the institution ready demands. stream of depositors the bank yesterday withdrawing deposits, most of them accounts. Between 2:00 the rush seemed and predicted that over with. The bank been the in the always paid dividends and hard started the Local concerns the but deposits the silver and currency Kalispell secure any amount Spokane. known

2. March 25, 1929 The Daily Inter Lake Kalispell, MT

Article from The Daily Inter Lake, March 25, 1929

Click image to open full size in new tab

Article Text

SHORT RUN MADE ON BANK AT WHITEFISH EASTERN STAR NOTICE: NELLIE L. TREKELL, Worthy Matron Unfounded rumors are said to have Adah Chapter No 17. O E. S. will been the cause which started a run meet in regular session on Tuesday on the First National bank in this evening. March Work and bancity yesterday morning. Statements quet. made by Vice President Jennings to The Independent late yesterday at Adv. ternoon were to the effect that there was absolutely no true foundation NOTICE OF PROBATE OF WILL for the numerous rumors that had been circulated and that the institu In the District Court of the Eleventh tion was ready to pay all demands Judicial District. of the State of A steady stream of depositors was Montana, in and for the County of at the bank yesterday withdrawing Flathead. their deposits. most of them having IN THE MATTER OF THE ESTATE small accounts. Between 2:00 and OF JAMES MANNING. Deceased. 3:00 o'clock the rush seemed to be Pursuant to an Order of said Court over and it is predicted that the made on the 12th day of March. 1929. scare is over with notice is hereby given that Tuesday The bank has been recognized as the 26th day of March, 1929, at 1:30 one of the soundest in the state, has o'clock p. m., of said day, at the always paid its stockholders substanCourt Room of said Court, at the tial dividends and it is hard to un Court House in the County of Flatderstand what started the run Local head. has been appointed as the time business concerns paid no attention and place for proving the Will of to the scare, but rather increased said James Manning deceased, and their deposits during the day. A supfor hearing the application of Michael ply of silver and currency was C. M in for the issuance to brought up from Kalispell and ar him of Letters Testamentary when rangements made to secure any and where any person interested may amount required from Spokane. appear and contest the same. Whitefish Independent. All transient and local advertising must be paid in advance. We accept no charge orders.

3. March 28, 1929 The Eureka Journal Eureka, MT

Article from The Eureka Journal, March 28, 1929

Click image to open full size in new tab

Article Text

RUN ON WHITEFISH BANK WAS OF SHORT DURATION The run, founded on and foolish rumors, on the First National bank, late last week, had run its course by Friday afternoon. And before the run had entirely subsided withdrawn funds were already being returned. This has continued and good portion of such funds have been re-deposited. A fact that shows the confidence of the bulk of the community in the stability of the bank is that on the two days that the run was on, deposits made ceeded $23,000. Based on the experience of similar run 15 years ago, officials of the bank state that in very few weeks deposits will be back to the original figures. About 35 per cent of the funds withdrawn have already been re-deposited. Total withdrawals slightly exceeded 10 per cent of the total deposits, and when the run was over the deposits were comfortalbe fortune above half million dollars. Total withdrawals were less than the cash