First State Bank - Philipsburg, MT

Episode Information

Episode UID: 93025171562
Episode Type: Suspension → Closure
Bank Type: state
Bank ID: 9302517 routing
Routing Number: 93-0251
Start Date: February 12, 1930
Location: Philipsburg, Montana (46.332, -113.294)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: ee28f03c723b0f7a

Response Measures

None

Description

Bank was closed and in liquidation; dividends being paid in 1934.

Events (2)

1. February 12, 1930 Suspension

Cause Details: Article states bank closed on Feb 12, 1930 but gives no specific cause for suspension.
Newspaper Excerpt: First State bank of Philipsburg, closed February 12, 1930;
Source: newspapers

2. October 3, 1934 Receivership

Newspaper Excerpt: Helena, Oct. 3.—Dividends of nearly $30,000 to the depositors of five closed Montana state banks were announced recently by Frank Johnson, state bank superintendent. The dividends included: First State bank of Philipsburg, closed February 12, 1930; 5 per cent $9,529.50; this was the seventh dividend and a total of 65 per cent has been repaid. Liquidating agents, George Kirk, L. D. Jackson and D. C. Bradley, will make the depositor and creditor payments.
Source: newspapers

Newspaper Articles (1)

1. October 4, 1934 The Mineral Independent Superior, MT

Article Text

SUPERIOR BANK TO PAY DIVIDEND 10 PER CENT DIVIDEND WILL BE PAID EARLY THIS MONTH. George H. Kirk, liquidating agent for the Superior state bank, has announced that another dividend of 10 per cent will be payable on October 12 to the creditors of the local bank. This will make the total dividends 85 per cent and will be welcome news to those who hold certificates against the institution. During his visit in Superior Mr. Kirk made the statement that in his opinion the local bank will pay dollar for dollar by the time the affairs of the bank are liquidated. This seems to be a record for any bank that failed during the depression and it must speak well for Superior and the people who made good their losses and helped to make such a condition possible. Credit is also due the state banking department for the efficient manner in which closed banks are being managed. Under the old system of appointing a bank receiver it would be impossible to make such a showing. The following article taken from the press reports from Helena show what is going on with other banks. Helena, Oct. 3.—Dividends of nearly $30,000 to the depositors of five closed Montana state banks were announced recently by Frank Johnson, state bank superintendent. Liquidating agents, George Kirk, L. D. Jackson and D. C. Bradley, will make the depositor and creditor payments. The dividends included: First State bank of Philipsburg, closed February 12, 1930; 5 per cent $9,529.50; this was the seventh dividend and a total of 65 per cent has been repaid. The Mission State bank of St. Ignatius, closed December 23, 1930. Five per cent dividend of $6,620.42. This is the fourth dividend and 25 per cent has been paid.