First National Bank - Monte Vista, CO

Episode Information

Episode UID: 722801295
Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 72280 national
Charter Number: 7228
Start Date: November 30, 1907
Location: Monte Vista, Colorado (37.579, -106.148)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: e64acd755d47b973

Response Measures

None

Receivership Details

Depositor recovery rate: 24.6%
Date receivership started: 1932-02-08
Date receivership terminated: 1935-12-20
Share of assets assessed as good: 23.0%
Share of assets assessed as doubtful: 53.3%
Share of assets assessed as worthless: 23.7%

Events (3)

1. April 26, 1904 Chartered

Source: historical_nic

2. November 30, 1907 Suspension

Cause: Macro News
Cause Details: Banks in Monte Vista suspended payments in connection with the nationwide Panic of 1907 and are awaiting resumption by New York and Chicago banks.
Newspaper Excerpt: The banks of Monte Vista are ready to resume cash payments as soon as the New York and Chicago banks resume. Our banks have not been loaning very much since suspension but have been renewing notes as they fall due.
Source: newspapers

3. February 8, 1932 Receivership

Source: historical_nic

Newspaper Articles (1)

1. November 30, 1907 The Monte Vista Journal Monte Vista, CO

Article from The Monte Vista Journal, November 30, 1907

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Article Text

The regular monthly meeting of the San Luis Valley Ministerial association will be held at the home of Dr. S. H. Moore at ten o'clock. Rev. Wm. Keiry will be the speaker. The banks of Monte Vista are ready to resume cash payments as soon as the New York and Chicago banks resume. Our banks have not been loaning very much since suspension but have been renewing notes as they fall due. The best warden of the best governed penitentiary in the United States, John Cleghorn, made a short but splendid speech to the 600 men under his charge Thanksgiving day. He read the pardons for two convicts and gave a sumptuous dinner.