9922. Bole State Bank (Bole, MT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 1, 1930
Location
Bole, Montana (47.711, -112.011)

Metadata

Model
gpt-5-mini
Short Digest
495ed22bddcafaa1

Response Measures

None

Description

Contemporary reports (Apr 1–2, 1930) state the Bole State Bank 'has suspended operations' and refer to it as the 'former Bole Bank.' The articles describe defaulting on large certificates of deposit and a suit for recovery, indicating bank-specific adverse conduct leading to suspension. No mention of a depositor run or of reopening or an appointed receiver is present in the provided clippings; language implies permanent closure but a receiver is not explicitly named.

Events (1)
1. April 1, 1930 Suspension
Cause
Bank Specific Adverse Info
Cause Details
The bank allegedly defaulted on multiple large certificates of deposit (defaults on $11,000 and $13,000 CDs) and was later named in a suit for roughly $22,983, indicating insolvency or mismanagement of bank funds leading to suspension.
Newspaper Excerpt
The bank has suspended operations.
Source
newspapers

Newspaper Articles (2)
1. April 1, 1930 Great Falls Tribune Great Falls, MT
Article from Great Falls Tribune, April 1, 1930

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Article Text

Former Bole Bank Is Named in Suit Action involving in excess of $23,000 was Monday instituted in district court by A. J. Fousek, trustee, against the Bole State bank and P. J. Thomas, its cashier. The bank has suspended operations. The Bole bank, It is alleged, on April 1, 1921, executed an $11,000 certificate of deposit to the American Bank and Trust company and defaulted in payment of the entire amount. It is further alleged that the bank on Nov. 19, 1920. executed $13,000 certificate of deposit in favor of the American bank and that a third certificate of deposit for $11,000 was issued on March 15, 1921. All but $384 of the latter deposit was paid. Fousek asks a judgment for $22,983 principal, interest and attorney fees.

2. April 2, 1930 The Independent-Record Helena, MT
Article from The Independent-Record, April 2, 1930

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Article Text

Former Bole Bank Is Named in Suit Great April excess of instituted district court Monday trustee. against Bole State bank and its cashier. The bank Thomas. suspended operations. The Bole bank. alleged. an certificate of to the Bank and Trust company and defaulted payment of the entire further alleged amount. that the bank on Nov. 1920. executed certificate deposit favor of the American bank and that third certificate deposit for was issued on March 15. 1921.