6534. Montgomery County National Bank (Cherryvale, KS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
4749
Charter Number
4749
Start Date
May 1, 1931*
Location
Cherryvale, Kansas (37.270, -95.552)

Metadata

Model
gpt-5-mini
Short Digest
9f295d4b

Response Measures

None

Receivership Details

Depositor recovery rate
14.6%
Date receivership started
1931-05-07
Date receivership terminated
1935-05-29
Share of assets assessed as good
16.2%
Share of assets assessed as doubtful
62.0%
Share of assets assessed as worthless
21.8%

Description

Article (May 14, 1931) reports the bank was closed by its directors in May after examiners discovered irregularities and the president Wright Dillman was arrested for conversion/false entries. An October 8, 1931 article names a receiver for the Montgomery County National Bank, indicating permanent closure and receivership. OCR errors in Article 1 were corrected (e.g., 'Wright Dillman' as deposed president; some sentences fragmented). No mention of a depositor run in the pieces provided.

Events (4)

1. June 7, 1892 Chartered
Source
historical_nic
2. May 1, 1931* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Examiners discovered irregularities; president Wright Dillman arrested for converting bank funds and making false ledger entries (defalcations).
Newspaper Excerpt
Shortage Large, Report of Examiners Indicates; ... bank, closed by its directors May ... May bank examiners announced they had discovered irregularities Montgomery County National bank, closed by its directors May
Source
newspapers
3. May 7, 1931 Receivership
Source
historical_nic
4. October 8, 1931 Receivership
Newspaper Excerpt
Jeff H. Hooker ... will have charge of the affairs of the ... Montgomery County National bank of Cherryvale, Kan., ... has been named receiver ... for four other banks ... (publication Oct 8, 1931).
Source
newspapers

Newspaper Articles (2)

Article from Kansas City Journal, May 14, 1931

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Article Text

BRIAND YIELDS TO CABINET'S INCHERRYVALE PLEA TO STAY BANK FAILURE Defeated for Presidency, He Will Remain ForMinister. eign Former President of Montgomery County National Arrested. TO AT ONCE TWO COUNTS BROUGHT Noted Liberal Decides to Go Ahead With Efforts for World Peace. PARIS, May council ministers today succeeded in suading Aristide Briand from ing immediately foreign minister and Briand consented to proceed Geneva tonight. While was understood to Briand's resign the further on effort to induce him to remain. They however, particularly hopeof Briand said he would remain Geneva for short time and then resign. He expressed pleasure he participate the Eurobut appeared to be tired and dispirited after defeat the presidential election. The "apostle peace" was feated by Sen. Paul Doumer exciting presidential balloting parliament, sitting national sembly Versailles yesterday. He withdrew on the first ballot, but visibly disappointed. The selection Doumer, however, did indicate with Briand's foreign policy. On the contrary, that his defeat due party quarrel the factions bested Briand's supporters the Briand's defeat technically ascribed support of the cialists. They brought bloc of 100 votes standard, but this action several hundred centrists. The Senator Doumer, while insisting that he left man, fact mild servative. He regarded statesman, and known admirer Premier Laval and Andre Tardieu, minister agriculture and former These men may to vital roles during the Doumer administration. Shortage Large, Report of Examiners Indicates; Amount Secret. May bank examiners announced they had discovered irregularities Montgomery County National bank, closed by its directors May Wright Dillman, deposed president institution. has been rested converting bank funds his and makfalse the taken Scott and bound for the term of the The banker furnished Squire and Pickerell, local business Dillman specifically is charged with the conversion personal account February making false entry of ledger account the bank on October 10, 1930. Dillman's defalcations wiuld run higher. bank closed by the board directors personnel of the bank, time Dillman relieved the being by Wilkes, farmer and stockman heavy stockholder At time the directors the bank closed The bank listed deposits and loans discounts $173,000. was capitalized The arrest of Dillman brought the the bank. May the bank robbed of bandits, Mrs. later was solved an inside bery plotted Clarence sistant and former and executed Charles bandits. and Howard and sentenced the federal prison. later lahoma. president the the time the robbery curred.


Article from Bartlesville Examiner-Enterprise, October 8, 1931

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Article Text

RESIGNS Jeff H. Hooker. Dallas, Texas, Named Receiver for Central National National and Four Others Jeff H. Hooker of Dallas Texas has been named receiver for Central National bank well receiver for four other banks cated in this state, Kansas and Ar kansas. He succeeds Irving Page. resigned the first of the month to accept position manager the Federal Intermediate Credit bank Wichita, Kan Mr. Hooker has had wide perience bank receiver for government in the southwest. particularly this state and Texas. In addition to his duties with the local bank. Mr. Hooker will have charge of the affairs of the First National bank in the First National bank Siloam Springs, the Montgomery County National bank of Cherryvale, Kan., and Commercial Na. tional bank. Independence, Kan.,