First National Bank - Montgomery, IN

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 5734
Charter Number: 5734
Start Date: October 27, 1911
Location: Montgomery, Indiana (38.663, -87.046)

Metadata

Model: gpt-5-mini
Short Digest: aa820fc0

Response Measures

Full suspension

Other: Bank was forced to liquidate; depositors to be paid in full; stockholders likely wiped out.

Description

Article states a run forced the First National Bank of Montgomery, Ind., to liquidate because of bad loans; depositors to be paid in full while stockholders likely to lose holdings. Permanent closure/liquidation implied.

Events (5)

1. March 6, 1901 Chartered

Source: historical_nic

2. October 27, 1911 Other

Newspaper Excerpt: It was announced to-day that depositors would be paid in full while stockholders are likely to lose the full extent of their holdings. The bank was capitalized at $25,000, and had about $45,000 deposits. Bad loans are given as the cause of the crash.
Source: newspapers

3. October 27, 1911 Receivership

Newspaper Excerpt: has been forced to liquidate because of a run.
Source: newspapers

4. October 27, 1911 Run

Cause: Bank Specific Adverse Info
Cause Details: Bad loans are given as the cause of the crash; run forced bank into liquidation.
Measures: None mentioned; bank was forced to liquidate and depositors to be paid in full.
Newspaper Excerpt: Run Closes Bank. Montgomery, Ind., Oct. 27.-The first National Bank of Montgomery, has been forced to liquidate because of a run.
Source: newspapers

5. December 6, 1911 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. October 28, 1911 The Washington Herald Washington, DC

Article from The Washington Herald, October 28, 1911

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Article Text

Run Closes Bank. Montgomery, Ind., Oct. 27.-The first National Bank of Montgomery, has been forced to liquidate because of a run. It was announced to-day that depositors would be paid in full while stockholders are likely to lose the full extent of their holdings. The bank was capitalized at $25,000, and had about $45,000 deposits. Bad loans are given as the cause of the crash.