9948. First National Bank (Charlo, MT)

View Charter #11165 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
11165
Charter Number
11165
Start Date
November 13, 1925
Location
Charlo, Montana (47.439, -114.172)

Metadata

Model
gpt-5-mini
Short Digest
2b0003d1348f92a1

Response Measures

None

Receivership Details

Depositor recovery rate
94.2%
Date receivership started
1924-02-20
Date receivership terminated
1928-10-31
OCC cause of failure
Economic conditions
Share of assets assessed as good
33.2%
Share of assets assessed as doubtful
63.8%
Share of assets assessed as worthless
3.1%

Description

Multiple contemporaneous newspaper clippings (Nov 1925–Jan 1926) report that J. M. Swan is receiver of the First National banks at Ronan and Charlo, succeeding R. C. Riddick. The articles state Riddick had been receiver of the First National Bank of Polson since it closed ~1½ years earlier. There is no mention of a depositor run or of reopening; the bank is under receivership, i.e., closed by government action. OCR errors in the clippings (misspellings and missing words) were corrected where obvious (e.g., succeeded by J. M. Swan, affairs).

Events (3)
1. April 12, 1918 Chartered
Source
historical_nic
2. February 20, 1924 Receivership
Source
historical_nic
3. November 13, 1925 Suspension
Cause
Government Action
Cause Details
Bank is under receivership — J. M. Swan named receiver for the First National banks at Ronan and Charlo, succeeding R. C. Riddick (indicating the bank is closed and in receivership).
Newspaper Excerpt
has been succeeded by J. M. Swan, who is receiver of the First National banks at Ronan and Charlo. Mr. Swan will handle the affairs of all three banks
Source
newspapers

Newspaper Articles (10)
1. November 13, 1925 The Valerian Valier, MT
Article from The Valerian, November 13, 1925

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Article Text

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

2. November 18, 1925 The Searchlight Hardin, MT
Article from The Searchlight, November 18, 1925

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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.

3. November 19, 1925 The Absarokee Enterprise Absarokee, MT
Article from The Absarokee Enterprise, November 19, 1925

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Article Text

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

4. November 19, 1925 The Yellowstone Ballantine, MT
Article from The Yellowstone, November 19, 1925

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Article Text

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

5. November 19, 1925 The Moore Independent Moore, MT
Article from The Moore Independent, November 19, 1925

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Article Text

Receiver for Three Banks R. C. Riddick. who has been receiver of the First National bank of Polson since it closed a year and a half ago, has resigned and has been succeeded by J. M. Swan, who is receiver of the First National banks at Ronan and Charlo. Mr. Swan will handle the affairs of all three banks and will be assisted by C. D. Livingston.

6. November 20, 1925 The Kremlin Chancellor Kremlin, MT
Article from The Kremlin Chancellor, November 20, 1925

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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.

7. November 20, 1925 The Ismay Journal Ismay, MT
Article from The Ismay Journal, November 20, 1925

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Article Text

Receiver for Three Banks R. C. Riddick, who has been receiver of the First National bank of Polson since it closed a year and a half ago, has resigned and has been spcceeded by J. M. Swan, who is receiver of the First National banks at nan and Charlo. Mr. Swan will handle the affairs of all three banks and will be assisted by C. D. Livingston.

8. November 27, 1925 The Richey Pilot Richey, MT
Article from The Richey Pilot, November 27, 1925

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Article Text

Receiver for Three Banks R. C. Riddick, who has been receiver of the First National bank of Polson since it closed a year and a half ago, has resigned and has been succeeded by J. M. Swan, who is receiver of the First National banks at and Charlo. Mr. Swan will handle the affairs of all three banks and will be assisted by C. D. Livingston.

9. November 27, 1925 The Powder River County Examiner Broadus, MT
Article from The Powder River County Examiner, November 27, 1925

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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.

10. January 14, 1926 Plainsman Plains, MT
Article from Plainsman, January 14, 1926

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Article Text

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