gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
62058c7498fa8f10
Response Measures
None
Receivership Details
Depositor recovery rate
36.5%
Date receivership started
1923-11-09
Date receivership terminated
1927-09-12
OCC cause of failure
Governance
Share of assets assessed as good
17.8%
Share of assets assessed as doubtful
63.6%
Share of assets assessed as worthless
18.6%
Description
Used known receivership date as authoritative; articles state bank closed in December 1923 and later receiver distributions in 1925.
Events (5)
1.May 18, 1917Chartered
Source
historical_nic
2.November 9, 1923Receivership
Source
historical_nic
3.November 9, 1923Receivership
Newspaper Excerpt
Receiver J. P. Rigler ... has been appointed receiver ... he succeeds the receiverships of the First National bank of Carter (article notes Rigler later appointed receiver).
Source
newspapers
4.December 1, 1923*Suspension
Cause Details
Article notes the bank closed/suspended in December 1923 but gives no specific cause.
Newspaper Excerpt
The Carter First National closed in December, 1923, with deposits of approximately $75,000 and capitalization of $50,000. The dividend to be paid now is the first distribution since the bank suspended business.
Source
newspapers
5.August 13, 1925Other
Newspaper Excerpt
BANK AT CARTER WILL PAY DIVIDEND OF 20 PER CENT; Immediate distribution of a 20 per cent dividend by the First National bank of Carter was announced Wednesday by Receiver J. P. Rigler.
Source
newspapers
Newspaper Articles (5)
1.December 14, 1923The Chouteau County IndependentFort Benton, MT
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Article Text
ACTION TO COLLECT FUNDS
County Attorney W. S. Towner this week attached personal property of bondsmen of the Carter State Bank of Carter and the Loma State Bank at Loma. The amount of county money in the Loma institution was $6,600 while at Carter the county had $6,330 on deposit.
In the case of the First National Bank of Carter, the deposit amounting to about $13,000 was largely covered, there being a $10,000 surety bond and the balance by personal bond.
2.July 10, 1925The Great Falls LeaderGreat Falls, MT
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Article Text
RIGLER SUCCEEDS T. E. McCLINTOCK AS BANK RECEIVER
New Manager of Affairs of Defunct Institution Has Been in Montana 10 Years and Formerly Was Connected With War Finance Corp.
J. P. Rigler. for the last two years associated with the receiver. ship of the Commercial National bank of Great Falls, has been appointed receiver take the place of T. E. McClintock whose resignation was given the comptroller of the treasury July He also sueceeds the receiverships of the First National bank of Highwood and First National bank of Carter Mr. McClintock still Is receiver of the Stockmen's National bank of Fort Benton and the First National and Citizens National banks of Wyo Mr. Rigler has resided in Montana 10 years and formerly was connected with the War Finance corporation He now is representa tive of the Hanover National bank of New York in Montana, Idaho and South Dakota. The Commercial bank which failed October 4. 1922 with deposits one 15 per cent dividend year ago The Highwood bank has paid 1-2 per cent to date
3.August 13, 1925Great Falls TribuneGreat Falls, MT
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Article Text
BANK AT CARTER WILL PAY DIVIDEND OF 20 PER CENT
Immediate Distribution Is Announced by Receiver, to Total $15,000; First Payment Made Since Closing
Immediate distribution of a 20 per cent dividend by the First National bank of Carter was announced Wednesday by Receiver J. P. Rigler, who recently was appointed to the receivership of that bank and of the Commercial National bank of Great Falls. The total distribution will approximate $15,000.
Payment of the dividend now follows collections on the bank's paper, which have created a cash fund that makes
4.August 14, 1925The Great Falls LeaderGreat Falls, MT
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Article Text
RECEIVER GIVES NOTICE OF BIG BANK DIVIDEND
Receiver J. P. Rigler of the First National Bank of Carter. has made announcement of the im. mediate distribution of 20 per cent dividend to depositors of that inamounting to about The Carter First National closed in December, 1923, with deposits of approximately $75,000 and capitalization of $50,000. The dividend to be paid now is the first distribution since the bank suspended business. The dividend checks will be paid from Receiver Rigler's Great Falls office.
5.August 19, 1925The River PressFort Benton, MT
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Article Text
Carter Bank To Pay Dividend
Great Falls. Immediate distribution by the First National bank of Carter was announced Wednesday by Receiver J. P. Rigler, who recently was appointed to the receivership of that bank and of the Commercial National bank of Great Falls. The total distribution will approximate $15,000. Payment of the dividend now follows collections on the bank's paper, which have created a cash fund that makes the distribution possible Receiver Rigler said. The location of the bank is one of the principle farming areas of northern Montana. The Carter First National closed in December, 1923 with deposits of approximately $75,000 and capitalization
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.