First National Bank (Polson, MT)

Episode Information

Episode Type
Suspension โ†’ Closure
Start Date
March 22, 1924
Location
Polson, Montana (47.694, -114.163)
Bank Type
national
Charter Number
9449

Metadata

Receivership Details

Depositor recovery rate
28.0%
Date receivership started
1924-03-22
Date receivership terminated
1928-12-31
OCC cause of failure
Economic conditions
Share of assets assessed as good
25.9%
Share of assets assessed as doubtful
50.5%
Share of assets assessed as worthless
23.7%

Notes

Used the known receivership date (1924-03-22) as the suspension/closure date.

Events (4)

1. June 16, 1909 Chartered
Source
historical_nic
2. March 22, 1924 Suspension
Cause
Government Action
Cause Details
Bank closed and placed in the hands of a receiver (receiver appointed).
Newspaper Excerpt
R. Riddick, who has been receiver the First National bank of Polson since closed year and half ago
Source
newspapers
3. March 22, 1924 Receivership
Newspaper Excerpt
R. Riddick, who has been receiver the First National bank of Polson since closed year and half ago, has resigned and has been succeeded by Swan, who receiver the First National banks Ronan and Charlo.
Source
newspapers
4. March 22, 1924 Receivership
Source
historical_nic

Newspaper Articles (11)

Article from The Glasgow Courier, July 25, 1924

Click image to open full size in new tab

Article Text

BANKS REOPEN AS BUSINESS REVIVES AND CROPS LOOM

With a bounteous crop in prospect, a business revival in sight and confidence returning to panicky depositors since the epidemic of bank suspensions has past, bankers and business men throughout the state are at work with renewed energy in the reorganization and reopening of many of the unfortunate institutions, says the Montana Banker.

At Havre, the reorganized Security State Bank is to open for business the latter part of July under the name of the Hill County State Bank. The Farmers and Merchants Bank of Winnett has just begun business, succeeding the Winnett State Bank. The committee working on the reorganization of the Commercial National Bank of Miles City announces positively that the program will proceed and that the bank will open in the coming fall. The reorganization of the American Bank and Trust Company of Missoula is proceeding rapidly. A committee has been named to carry on the work and frequent meetings of depositors are being held. Efforts are being made to secure sufficient agreements to enable the First National Bank of Polson to reopen by September 1. A plan for the reopening of the State Bank of Culbertson, whereby the new bank will begin without a penny of borrowed money, has been presented to depositors.


Article from The Searchlight, November 18, 1925

Click image to open full size in new tab

Article Text

Receiver for Three Banks

R. Riddick, who been receiver the First National bank of Polson since closed year and half ago, has and has been succeeded Swan, who receiver the by First National banks at and Charlo. Mr. Swan handle the afof all three banks and will assisted by Livingston.


Article from Belt Valley Times, November 19, 1925

Click image to open full size in new tab

Article Text

Receiver for Three Banks Riddick, has been receiver the First National bank of Polson since closed and half ago, has resigned and has been Swan, who of the First National banks and Charlo. Mr. Swan will handle the fairs of all three banks and will assisted by Livingston.


Article from Three Forks Herald, November 19, 1925

Click image to open full size in new tab

Article Text

Receiver for Three Banks

R. Riddick, who has been receiver the First National bank of Polson since closed and half ago, year and has been succeeded has Swan, of the National banks and First Charlo. Mr. Swan will handle the afof all three banks and will fairs assisted by Livingston.


Article from The Columbus News, November 19, 1925

Click image to open full size in new tab

Article Text

Receiver for Three Banks

Riddick. has been receiver the First National bank Polson since closed and half has resigned and has been succeeded Swan, who receiver of the First National banks Ronan and Charlo. Mr. Swan will handle fairs all three banks and will assisted by Livingston.


Article from Jefferson Valley News, November 19, 1925

Click image to open full size in new tab

Article Text

Receiver for Three Banks of the First National bank of Polson since closed year and half ago, has resigned and has been succeeded Swan. who receiver of the First National banks and Charlo. Mr Swan will handle the affairs of three banks and assisted by Livingston.


Article from The Kremlin Chancellor, November 20, 1925

Click image to open full size in new tab

Article Text

Receiver for Three Banks who has been receiver the National bank Polson since closed year and half has resigned and has been succeeded by Swan, who receiver of the First National banks Ronan and Charlo. Mr. Swan will handle the fairs all three banks and will be assisted by Livingston.


Article from The Troy Tribune, November 20, 1925

Click image to open full size in new tab

Article Text

Receiver for Three Banks

Riddick, has been receiver the First National bank of Polson since closed year and half has resigned and has been succeeded who the by First National banks at Ronan and Mr. Swan will handle the Charlo. of all three banks and will be assisted by C. Livingston.


Article from Plevna Herald, November 20, 1925

Click image to open full size in new tab

Article Text

Receiver for Banks

Riddick, who has of the First National bank of Polson since closed year and half has and Swan, who receiver the First National banks Ronan and Charlo. Mr. Swan will handle the fairs of all three banks and will be assisted by Livingston.


Article from The Wibaux Pioneer-Gazette, November 26, 1925

Click image to open full size in new tab

Article Text

Receiver for Three Banks Riddick

been receiver of the First National bank of Polson since closed year and half ago resigned and has been who receiver of the First National banks Ronan and Charlo. Mr. Swan will handle all three banks and will assisted by Livingston.


Article from The Powder River County Examiner, November 27, 1925

Click image to open full size in new tab

Article Text

Receiver for Three Banks been National bank Polson since closed year and half has resigned and has been succeeded Swan. receiver First National banks and Charlo. Mr. Swan will handle fairs all three banks and will assisted Livingston.