First National Bank - Ambrose, ND

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 9386
Charter Number: 9386
Start Date: May 8, 1930
Location: Ambrose, North Dakota (48.954, -103.483)

Metadata

Model: gpt-5-mini
Short Digest: d73fdad4

Response Measures

None

Receivership Details

Depositor recovery rate: 21.0%
Date receivership started: 1930-02-20
Date receivership terminated: 1935-05-17
OCC cause of failure: Economic conditions
Share of assets assessed as good: 53.2%
Share of assets assessed as doubtful: 38.0%
Share of assets assessed as worthless: 8.8%

Description

Article (May 8, 1930) states a national bank receiver, Andrew Foley, was transferred to Ambrose to take care of the affairs of the closed bank there, indicating the First National Bank at Ambrose had closed and a receiver was assigned. No run or reopening is mentioned in the text.

Events (4)

1. April 12, 1909 Chartered

Source: historical_nic

2. February 20, 1930 Receivership

Source: historical_nic

3. May 8, 1930 Receivership

Newspaper Excerpt: Andrew Foley, national bank receiver, was over from Ambrose, to which place he has been transferred for headquarters to take care of the affairs of the closed bank there
Source: newspapers

4. May 8, 1930 Suspension

Cause: Government Action
Cause Details: Bank closed and a national bank receiver (Andrew Foley) transferred to Ambrose to take charge of the closed bank's affairs.
Newspaper Excerpt: Andrew Foley, national bank receiver, was over from Ambrose, to which place he has been transferred for headquarters to take care of the affairs of the closed bank there
Source: newspapers

Newspaper Articles (1)

1. May 8, 1930 The Sidney Herald Sidney, MT

Article from The Sidney Herald, May 8, 1930

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Article Text

Peter Benson of Brorson was in Sidney Wednesday of this week. Mr. Benson is recovering from a severe IIIness. Bert Sallaberry, a prominent sheep man from Elmdale, transacted business in Sidney Wednesday. Carl Hunter of west of Fairview was in Sidney Wednesday transacting business and visiting his daughter who is employed in the Beauty Shop. Mr. and Mrs. Dan Walters of south of Culbertson were Sidney shoppers Tuesday Con Gustafson from Culbertson vicinity was a Sidney visitor Tuesday. Clyde Kendall and Ernest Chapman motored to Glendive last Friday to meet the representative of the Stetson Hat Co. Mr. and Mrs. Dan Walters of Culbertson transacted business in Sidney Tuesday. Alvin Lien of Brockton was a business visitor in Sidney Tuesday and Wednesday, this week. Ed. Weinrich of Culbertson was in Sidney on business Monday. A. E. Klette of Gettysburg was in Sidney Monday attending to business matters. W. L. Bell. acompanied by his sonin-law and daughter, Mr. and Mrs. 0. G. Baldwin, will leave Sunday, driving his car, for Aberdeen, S. D., being called there by the serious illness of his brother who lives there. Cliff Crawford will have charge of the Mandan Creamery station while Mr. Bell is away. He expects to be gone week or ten days and will stop at Ellendale where he formerly lived and has many friends for a visit with them. The W. C. T. U. meets Friday, May 16 at the home of Mrs. of Mrs. R. P. Blair with Mrs. Delamore as joint hostess. The program will be on Scientific Temperance. Those wishing transportation meet at the Congregational church at 2 o'clock. George Brennan and daughter Mary Francis of Fairview were Sidney visitors and shoppers Wednesday afternoon. J. C. Johnson of Fairview was business visitor in Sidney today calling on Blue Rock Products Co. dealers. Mr. Johnson has made of the Blue Rock Co. one of the outstanding manufacturing industries of the county. Counted failure when he took it over from discouraged ownership a number of years ago, when Fairview was in its infancy, he first gave strict attention to the manufacturing of high quality soft drinks and he kept pace with the increasing demand for these products which resulted by gradually installing the most modern plant equipment until now he has a plant the equal of which in that business it is to question would be found in any city in North Dakota or Montana. J. C. has won every step of his way in his manufacturing business by giving the public the best goods of the kind on the market and Blue Rock soft drink brands are extensively known and patronized for that very reason. Perry Imes and Severt Olson attended an initiation at a meeting of the Elks lodge at Glendive last Thursday night. Andrew Foley, national bank receiver, was over from Ambrose, to which place he has been transferred for headquarters to take care of the affairs of the closed bank there, over the week end until Wednesday to visit his family. Mrs. Foley is living at the Mrs. A. P. Rounce home temporarily and as soon as school is out she and the children will go to Ambrose to live. The Foleys have made a great many friends here who regret to see them leave. They moved here from Williston last fall when Mr. Foley was assigned by the treasury department to the receivership of the First National Bank and during the winter lived in the Merrill home while Mr. and Mrs. Merrill were away. Miss Houtchins was unable to at tend school Tuesday, Mrs. Harold Neven substituting in her place as teacher. Mrs. Healy. Mrs. Arthur Goodger. Mrs. F. S. P. Foss, Mrs. Vanderhoof and Mrs. Grace Gilmore of Glendive were in Sidney Saturday to attend the W. C. T. U. meeting at the home of Mrs. C. L. Teisinger. C. D. Adams. who has been at Sheridan, Wyo., on Holly Sugar Co. matters, expected to make the return trip early in the week but the roads are in such bad condition that he has been delaved and will probably not get in until the latter part of the week. Nels Nelson of Crane purchased a Chevrolet coach this week from the Gem City Motor Co. S. R. Hanks, Chevrolet sales representative, was in town Tuesday.