3448. First National Bank (Montpelier, ID)

View Charter #7381 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
7381
Charter Number
7381
Start Date
January 1, 1924*
Location
Montpelier, Idaho (42.322, -111.298)

Metadata

Model
gpt-5-mini
Short Digest
fa75840c4b0d5157

Response Measures

None

Receivership Details

Depositor recovery rate
59.5%
Date receivership started
1925-03-13
Date receivership terminated
1929-02-28
OCC cause of failure
Economic conditions
Share of assets assessed as good
13.4%
Share of assets assessed as doubtful
20.3%
Share of assets assessed as worthless
66.3%

Description

Articles describe the First National Bank of Montpelier as having suspended/failed and being in receivership with dividend payments to depositors. No contemporaneous bank run is mentioned. The bank remained closed and a receiver distributed dividends, indicating permanent closure. Exact failure/suspension date is not stated; a 1928 article says the banks 'closed within months of each other about four years ago' (≈1924), and a 1926 article references the receiver existing then.

Events (5)
1. August 29, 1904 Chartered
Source
historical_nic
2. January 1, 1924* Suspension
Cause Details
Bank closed and became insolvent; exact trigger not specified in articles.
Newspaper Excerpt
when the bank suspended
Source
newspapers
3. March 13, 1925 Receivership
Source
historical_nic
4. December 15, 1926 Receivership
Newspaper Excerpt
The First National bank of Montpelier, Idaho, is indebted ... and the bank's receiver, Oram Tracy, should allow the claim ...said an opinion Tuesday by Judge F. S. Dietrich of United States district court. (Idaho Statesman, 1926-12-15)First National bank ... Tracy, receiver ... announces dividend (Salt Lake Tribune, 1928-08-18).
Source
newspapers
5. August 18, 1928 Other
Newspaper Excerpt
Tracy, receiver First National bank of this city, announces dividend of 10 per ... This make 55 per that this bank has paid since clos ... The Bank of Montpelier has ready paid per cent and also make one small payment when It is finally ... Both banks closed within months of each other about four years ago.
Source
newspapers

Newspaper Articles (2)
1. December 15, 1926 The Idaho Statesman Boise, ID
Article from The Idaho Statesman, December 15, 1926

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Article Text

MONTPELIER MAN WINS SUIT TO COLLECT $4000 The First National bank of Montpelier, Idaho, is indebted to the Rev. George De Stoop in the sum of $4000, and the bank's receiver, Oram Tracy, should allow the claim without interest, said an opinion Tuesday by Judge F. S. Dietrich of United States district court. The suit was filed about two years ago against the bank and later, when the bank suspended, C. C. Sill, then receiver, was made co-defendant. Mr Tracy succeeded Mr. Sill. Mr. De Stoop. in his first complaint, held that the bank had the money in trust for him and that he therefore had a preferential claim. In an amended complaint he maintained general claim against the insolvent estate. Mr. De Stoop was a depositor of the bank's, and in April, 1913, had placed $4041.92 in his account, the money having been received as an inheritance from a family estate in BelShortly before the bank failed Mr. De Stoop made demand for the money and when he failed to get it, suit was filed.

2. August 18, 1928 The Salt Lake Tribune Salt Lake City, UT
Article from The Salt Lake Tribune, August 18, 1928

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Article Text

Montpelier Bank Receiver Announces Next Payment Special to The Tribune Idaho Tracy, receiver First National bank of this city, announces dividend of 10 per be paid sthe depositors of that institution in the next few days. This make 55 per that this bank has paid since clos The total to be disbursed will be about $32 It is that one small dividend will be when the business of the institution closed The Bank of Montpelier has ready paid per cent and also make one small payment when It is finally Both banks closed within months of each other about four years ago.