First National Bank - Wolf Point, MT

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 11036
Charter Number: 11036
Start Date: April 19, 1922
Location: Wolf Point, Montana (48.091, -105.641)

Metadata

Model: gpt-5-mini
Short Digest: b222bc03

Response Measures

None

Description

Bank voluntarily suspended operations in April 1922 by board resolution and was placed in charge of national bank examiner F. D. Williams. The bank was reorganized and reopened August 7, 1922 with new officers and capital. No article describes a depositor run prior to suspension.

Events (2)

1. April 19, 1922 Suspension

Cause Details: Board of directors passed a resolution suspending operations temporarily; bank placed in hands of national bank examiner F. D. Williams.
Newspaper Excerpt: The doors of the First National Bank of Wolf Point, which were closed by the board of directors on April 19th, were re-opened for business Monday, August 7.
Source: newspapers

2. August 7, 1922 Reopening

Newspaper Excerpt: The First National Bank of Wolf Point ... will resume business at 9 a. m., Monday, August 7th. The reorganization ... has been approved by the comptroller of the currency and the bank will resume business ... New Officers ... $50,000 new cash capital has been added to the assets and the bank is now in a position to render better service ... opened for business Monday, August 7.
Source: newspapers

Newspaper Articles (5)

1. April 28, 1922 The Glasgow Courier Glasgow, MT

Article from The Glasgow Courier, April 28, 1922

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Article Text

FIRST NATIONAL BANK OF WOLF POINT CLOSED The First National Bank of this city closed this morning (Thursday) and is now in the hands of F. D. Williams, national bank examiner. The bank was closed after the board of directors held a meeting and passed a resolution suspending operations temporarily. Until the examiner has checked up the bank no further statewill be available. It is reported to us that a detailed statement will be given out next week in time for publication. - -Promoter.

2. August 3, 1922 The Wolf Point Herald Wolf Point, MT

Article from The Wolf Point Herald, August 3, 1922

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Article Text

FIRST NATIONAL BANK WILL OPEN MONDAY The reorganization of the First National Bank of Wolf Point, which has been under way since the suspension of the bank, has been approved by the comptroller of the currency and the bank will resume business at 9 a. m., Monday, August 7th. This news was received just as we are going to press and a more detailed account of the reorganization will appear next week.

3. August 10, 1922 The Wolf Point Herald Wolf Point, MT

Article from The Wolf Point Herald, August 10, 1922

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Article Text

NATIONAL BANK IS OPEN FOR BUSINESS NEW OFFICERS AND NEW MONEY MAKES FUTURE LOOK BRIGHT The doors of the First National Bank of Wolf Point, which were closed by the board of directors on April 19th, were re-opened for business Monday, August 7. The affairs of the bank are in the hands of a complete new set of officials, who are optimistic about the outlook for the institution and Northeastern Montana in general. New Officers B. G. Egerton of Oconomowoc, Wisconsin, is the new president. Mr. Edgerton is connected with the Bank of Oconomowoc in an official capacity and is possessed of matured experience in the banking business, having 1 spent forty years in active and successful management of financial institutions. Besides ability, he has a decidedly pleasing personality. A. W. Huxsol of the Huxsol Drug Co., one of the city's leading business men, is vice president. The cashier will be G. T. Listug, who comes here from Fairview, where he has been with the Bank of Fairview for a number of years. His experience has been wide, having been connected with banks in Wisconsin, Minnesota and Montana. 1 Irving L. Jensen, formerly with the State Bank of Culbertson is asJ sistant cashier. Board of Directors The members of the board of dij rectors will be: B. G. Edgerton, A. W W. Huxsol, O. C. Johnson, G. T. LisI tug, I. L. Jensen of this city; K. c Everson of Dodson and L. C. Winb gate of Sidney. S Co-Operation Appreciated g o The officials are appreciative of p the cooperation extended by depositors in accepting time certificates of deposit and to these depositors is largely due the credit for the reb opening of the bank. F. D. Williams, f National Bank Examiner who has m been in charge during the suspension v of business, has been a tireless worka er for the good of the bank and the ou community and the results he obtained are gratifying indeed. vo Outlook Good de When the First National Bank th of Wolf Point opened its doors for m business Monday morning the offia cials had complied with every regulation of the banking department ti and started doing business on advice VO from the comptroller of the curto rency. op According to the president, $50,000 new cash capital has been added to the assets and the bank is now in a position to render better service to int ts patrons than ever. before. pos The re-opening of this bank differs cei from some over the state in that deositors here will receive one hunthe Ired cents on the dollar for every tio ollar deposited and interest on all pre nterest bearing contracts. the jec Northeastern Montana seems to Be ave gotten astride the wave of prosSte erity for with the simultaneous oth pening of the First National Bank 7 ere and the Milk River Valley Bank tion t Glasgow on Monday, so far as on nown there are but two suspended vot anks in this section of the state. ert 'hey are both located at Poplar.

4. August 17, 1922 The Wolf Point Herald Wolf Point, MT

Article from The Wolf Point Herald, August 17, 1922

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Article Text

Hobart McLean and Harry Carr were in from the Southside Monday Hemstitching-My machine is at t the Buttrey-Swift store. Belle Gordon FOR SALE-Ford touring car, good condition. Ed Gits, Wolf Point. 26tf A daughter was born to Mr. and Mrs. Arthur Rensvold of the Northside on August 11. Your business, large or small, is always appreciated at "Lloyd's Store' 4-tf Phone 75. Fred Buettner, who farms up north near Tule Creek, was in after harvesting repairs today. Henry L. Lowers from the reservation, was attending to business matters in the city on Tuesday. Harry Carey's most gigantic superpicture "MAN TO MAN" at the Liberty Thursday-Friday. Some picture. B. G. Edgerton, president of the First National Bank, returned Sunday to his home at Oconomowoe, Wis. H. T. Smith has recovered from his recent illness and is again attending to his usual duties at the Mission school. Mrs. D. Stone left on Tuesday morning for Rochester, Minn., where she will enter the Mayo hospital to undergo minor operations. The Presbyterian Ladies Aid Society will be entertained by Mrs. W. L. Young and Mrs. Josiah Martin at the church on August 31. Harry McLeod was in Thursday from West Fork to meet his sister, Marie, on her return from Dillon, where she had been attending summer school. Four high school girls want positions where they can earn their board and room with private families. Address Mrs. F. Beachler, West Fork, 1t Montana. George G. Harvey, one of the prominent young businessmen of Williston, was in the city a couple of days this week representing the Maxwell car. George Maloy from Southwest was in the city on Wednesday taking out supplies. Mr. Maloy stated that threshing would be in full swing in his community next week. R. S. Dalve, of the Walters Drug Co., returned this week from a ten day vacation spent in Great Falls. He also enjoyed trout fishing in the Little Bear Paugh mountains. The Army store moved this week I from the Lamberton building on Main street to the rooms formerly occu. pied by the Wolf Point Promoter in the rear of the Security State bank. d F Tuesday and Wednesday the Libt erty Theatre will show the celebrated t James Oliver Curwood's Northwood production "GOD'S COUNTRY AND I THE WOMAN." Admission only 10 a and 35 cents. S William McConnon received the e sad news of his mother's death on Monday morning, which occured at Winona, Minn. He left on No. 2 the same morning to be in attendance at the funeral. st n Dr. Geo. A. Lhamon, eyesight to specialist, will be at the Sherman 0 Hotel, August 24, one day only. a Have your eyes examined. Thirty a years experience assures you of comA 1-t fortable fitting glasses. h th City Attorney H. A. Schoening, C. P. Swedberg and W. B. DeWitt cr left Monday for Helena to be in attendance at the Masonic Grand Lodge meeting in session there Wednesday and Thursday. ol The First National Bank of Wolf se Point which suspended voluntarily to April 19th, 1922, opened for business y August 7th. The county's deposit ge of $6,646.82, as well as all other deth posits, are worth 100 cents on the se dollar. th Wolf Point elevators are preparng to take care of the bumper crop this fall with the greatest speed posis sible. Kewanee dumps are being inW stalled this week at the Equity eleJo vator and the Wolf Point Grain Co. elevator. tie hi Mrs. loyd Montgomery, Mrs. A. co E. Knights, Mrs. F. E. Rathert and Γ. H. Fox went to Helena Tuesday from the local chanter

5. January 14, 1926 The Wolf Point Herald Wolf Point, MT

Article from The Wolf Point Herald, January 14, 1926

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Article Text

WHAT IS A STRONG BANK? BRIEF HISTORY OF THE FIRST NATIONAL (By A. T. Listug, Cashier) In these days of adjustment when bank failures are quite frequent, it is perfectly natural for people to scrutinize the banks where they do their business and where their funds and savings are held in trust. The strength and safety of a bank cannot be judged by its size, nor can they be compared as being: the first, the second, the third, the fourth or the fifth strongest bank in the country. All banks that have made a cleaning, got their loans and other assets well in hand, with stockholders financially able to pay, and in addition that these stockholders have the moral character and are willing to use their funds to protect the Depositor for a hundred cents on the dollar, are as strong as any bank can possibly be. There are hundreds of banks like that in these United States today and any one of them is as strong as the other where every Depositor gets paid in full. In 1922 after a suspension of three months and sixteen days, the First National Bank of Wolf Point, Montana was reorganized with new capital, practically all new stockholders and entire new management; and under an agreement with the Depositors to pay them in two years one hundred cents on the dollar and six per cent interest. Notwithstanding the fact that this bank opened up with over a hundred thousand dollars of borrowed money and most of its assets pledged; with about eighty thousand dollars of mostly outside money on time deposit bearing six to eight per cent interest, and nearly fifteen thousand delinquent taxes on Real Estate; the borrowed money is all paid and the pledged assets all returned to the bank; the delinquent and current taxes all paid in full; all outside depositors, who so wished, were paid in full with six per cent interest, and where the depositors needed their money it was paid to them long before the agreement expired. No Depositor's claim was ever taken-at a discount by anyone connected with this bank, all were paid in full. Continued on page seven)