First National Bank (Chester, MT)

Episode Information

Episode UID
1110501483
Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
111050 national
Charter Number
11105
Start Date
July 30, 1923
Location
Chester, Montana (48.511, -110.967)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
c78adf71b9766a7c

Response Measures

None

Receivership Details

Depositor recovery rate
1.4%
Date receivership started
1923-07-30
Date receivership terminated
1928-03-31
OCC cause of failure
Losses
Share of assets assessed as good
13.8%
Share of assets assessed as doubtful
41.2%
Share of assets assessed as worthless
45.1%

Description

Receiver Frank Browne appointed July 30, 1923; articles describe post-closure litigation and asset administration.

Events (4)

1. November 30, 1917 Chartered
Source
historical_nic
2. July 30, 1923 Receivership
Source
historical_nic
3. July 30, 1923 Receivership
Newspaper Excerpt
Notice is hereby given to all persons who may have claims against The First National Bank of Chester, Montana, that the same must be presented to Frank Browne, Receiver ... Aug. 10 to Nov. 2.
Source
newspapers
4. July 30, 1923 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended and then closed in July 1923 due to insolvency leading to appointment of a receiver.
Newspaper Excerpt
the bank closed in July, 1923 ... the bank suspended business
Source
newspapers

Newspaper Articles (12)

Article from The Chester Reporter, September 21, 1923

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TREASURY DEPARTMENT Office of the Comptroller of the Currency, Washington, D. C. Aug. 10, 1923. Notice is hereby given to all persons who may have claims against "The First National Bank of Chester," Montana, that the same must be presented to Frank Browne, Receiver, with the legal proof thereof, within three months from this date, or they may be disallowed. (Signed) Henry M. Davis, Comptroller of the currency. Aug. 10 to Nov. 2.


Article from The Chester Reporter, November 22, 1923

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reference to the plaintiff's complaint on file in the office of the Clerk of the above entitled Court. Dated this 1st day of November, 1923. (SEAL) GEORGE H. GAU, Clerk. Max P. Kuhr, Havre, Montana. J. B. Ryan, Spokane, Washington. Attorneys for the Plaintiff. ALIAS SUMMONS IN THE DISTRICT COURT OF THE EIGHTEENTH JUDICIAL DISTRICT OF THE STATE OF MONTANA, IN AND FOR THE COUNTY OF LIBERTY. Mary Katharine Reely, Plaintiff. vs. Ignac Stellner; The St. Anthony & Dakota Elevator Company, a corporation; The First National Bank of Chester, a corporation; Frank Browne, Receiver of The First National Bank of Chester; The Black Coulee Farmers Oil & Gas Co., a corporation; Defendants.


Article from The Liberty County Times, October 10, 1924

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Article Text

No. 1865. SHERIFF'S SALE In the District Court of the Eighteenth Judicial District of the State of Montana, in and for the County of Liberty. The Minnesota Loan and Trust Company, a corporation, Plaintiff. vs. John Keldrauk, Anna Keldrauk, The First National Bank of Chester, a corporation, Frank Browne, Receiver of The First National Bank of Chester, Liberty County, a Municipal corporation, and the County Treasurer of Liberty County, Sheldon Brothers Company, a corporation, Defendants. To be sold at Sheriff's Sale on the 25th day of October, A. D. 1924, at 9:15 o'clock A. M., at the front door of the court house in the town of Chester, in the said County of Liberty, the following property: East half (E 1/2) of section thirteen (13) in township thirty-three (33) north of range four (4) east of the Montana Meridian, containing 320 acres, more or less, according to the Government survey thereof, together with all the hereditaments and appurtenances thereunto belonging or in anywise appertaining. Dated this 27th day of September, A. D., 1924. JOHN H. MORGAN, Sheriff. By MATT MORGAN, Under Sheriff. McKenzie & McKenzie, Great Falls, Montana. Attorneys for Plaintiff. (October 3-10-17-24)


Article from The Liberty County Times, November 14, 1924

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Article Text

No. 1902. SHERIFF'S SALE In the District Court of the Eighteenth Judicial District of the State of Montana, in and for the County of Liberty. THE NATIONAL FARMERS BANK OF OWATONNA, a corporation, Plaintiff. vs. Arthur Wilbur, Frank Browne, as Receiver of the First National Bank of Chester, a corporation, Hiram R. Noble, John M. Kay, Montana Emporium Company, a corporation, and Louise M. Burton, Defendants. TO BE SOLD AT SHERIFF'S SALE on the 22nd day of November, 1924 at two o'clock P. M. of said day at the front door of the court house in the City of Chester Liberty County, Montana, for cash to the highest bidder, the following described real estate to-wit: Southwest quarter, and south half of the northwest quarter northwest quarter of the northwest quarter, section 19 township 30 range 5, and northeast quarter of northeast quarter section 24 township 30 north range 4 east Montana Meridian containing 315.24 acres more or less. Dated at Chester, Liberty County State of Montana this 23rd day of October 1924. JOHN H. MORGAN, Sheriff. By MATT MORGAN, Under Sheriff. Fred C. Gabriel, Malta, Montana. Attorney for Plaintiff. (Oct. 31โ€”Nov. 7-14-21)


Article from Great Falls Tribune, March 26, 1925

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CHESTER BANK LAND TRANSFER DECLARED VOID Receiver Wins Suit, Claiming Closed Bank Showed Preference to Depositors Transfer of 2,686 acres of Hill and Liberty county land by the First National bank of Chester to Mary A. Stonach, a short time prior to its closing in July, 1923, was ordered annulled in a decision handed down Wednesday in the Great Falls federal court by Judge Charles N. Pray. The order was returned under the federal statute intended to void transfers made by a national bank after the commission of an act of bankruptcy, "or in contemplation thereof," with a view to giving one creditor preference over another.


Article from The Hill County Sunday Journal, March 26, 1925

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FRANK BROWNE WINS SUIT FOR DEPOSITORS Great March 25. Frank Falls, of the First NaBrowne, receiver tional bank of Chester, Wednesday victory for the won important of institution in the creditors that Falls, when the tederal at Great of 2686 Hill and transfer acres land the NaLiberty by tional bank of Chester to Mary short time prior to its 1923, was ordered anclosing July, down Wednulled decision in the Great Falls federal court nesday Judge Charles Pray. returned under the The order federal statute intended to void transnational bank after fers by of act of bankthe commission an contemlation thereof" ruptcy, one reditor to giving of the case, the history order relates that on Judge 15 before the bank July 1923, days the officers Mrs. Stonach by warranty recorded after the deeds that were Prior to the the decision contining deeds, Mrs. Stonach bank by certificates of represented accounts and checkdeposit When the bank closed accounts. to Mrs. Stonach or owed nothing whose account also figured that the act of Judge Pray held the land Mrs. Stonach transf to inclination to give her prefshowed an creditor the bank and the deed aside. The case ordered set Mrs. Stonach by was brought against Frank who was appointed ceiver July 1923.


Article from The Havre Daily News, March 27, 1925

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Article Text

BROWNE WINS SUIT FOR BANK AT CHESTER Frank Browne, as receiver of the First National bank of Chester. Wednesday won an important victory for the creditors of that institution in the federal court at Great Falls, when the transfer of 2.686 acres of Hill and Liberty county land by the First National bank of Chester to Mary A. Stonach. short time prior to its closing in July. 1923. was ordered annulled in decision handed down Wednesday in the Great Falls federal court by Judge Charles N. Pray. The order was returned under the federal statute intended to void transfers made by national bank after the commission of an jact of bankruptcy. "or in contemplation thereof,' with a view to giving one creditor preference over another. Following the history of the case, Judge Pray's order relates that on July 3. 1923. 15 days before the bank closed. its officers transferred the land to Mrs. Stonach by warranty deeds that were recorded after the bank suspended business. Prior to giving the deeds the decision continues. the bank owed Mrs. Stonach $17,000, represented by certificates of deposit, savings accounts and checking accounts When the bank closed it owed nothing to Mrs Stonach or her daughter. whose account also figured in the case Judge Pray held that the act of transferring the land to Mrs Stonach showed an inclination to give her preference as a creditor of the bank and ordered the deed set aside. The case was brought against Mrs. Stonach by Frank Browne who was appointed receiver July 30. 1923


Article from The Glasgow Courier, April 3, 1925

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Article Text

TRANSFER OF 2,686 ACRES ANCOURT Frank Browne, receiver of the First National bank Chester, Mont., last week won an important victory for the creditors of that institution the federal court at Great Falls, when the transfer of 2,686 acres Hill Liberty county land by the First National bank of Chester Mary A. Stonach, short time prior its closing in July, 1923, was dered annulled in decision handed down on Wednescay of week the Great Falls federal court by Judge Charles N. Pray. The order was returned under the federal statute intended void transfers made by national bank after the commission of an act of bankruptcy, in contemplation thereof," with view to giving creditor over another. Following the history of the case, Judge Pray's order relates that July 1923, 15 days before the bank closed, its officers transferred land Mrs. Stonach by warranty deeds that were recorded after the bank suspended business. Prior giving the deeds, the decision continues, the bank owed Mrs. Stonach by certificates of deposit, saving accounts and checking accounts. When the bank closed owed nothing to Mrs. Stonach her daughter, whose account also figured case. Judge Pray held that the act of transferring land to Mrs. Stonach showed an inclination to give her preference creditor of the bank and ordered the deed set aside. The was brought against Mrs. Ston ach by Frank who was appointed receiver July 30, 1923. between Great Falls and Canyon Ferry. As as the Great Falls supply shipped out additional 400,000 will be shipped from the Emigrant hatchery Toston, and Winston with which to stock the from Three Forks down to CanFerry. This will be the largest planting in the Missouri river. One touch of money makes the whole world "skin."


Article from The Liberty County Times, August 7, 1925

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No. 2149. SHERIFF'S SALE In the District Court of the Eighteenth Judicial District the State of Montana, in and for the of Liberty County Company, a corporaThe Sheldon tion, Plaintiff. Charles A. Sullivan, Rogers-Templeton Lumber Company, Browne, corporaFrank as Ed Albjerg; Receiver tion, of the First National Bank of Chester, corporation; Samuel Sullivan; The First State George Bank Joplin, corporation, Receiver of The First Stanton, as State Bank of Joplin, First State Bank of Chester, The as Recorporation; John First State Bank ceiver of the Chester, and T. E. McClintock, Defendants. To be sold at Sheriff's Sale on the day of August, o'clock M., the front door the court house the town Chester, the said County of Liberty, the property situated in Liberty County, State of Montana, more particularly described as follows, of section twenhalf (23) township east, Monnorth, range six (6) (35) containing 320 acres tana meridian, according to United more or less, States government survey thereof, with the tenements, and Thereunto belonging. and the reversions, rents, issues and also and all profits thereof, any water rights, water water easements thereunto belonging or in anywise Dated this 16th July, D. 1925.


Article from The Liberty County Times, August 14, 1925

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No. 2180. SHERIFF'S SALE In the District Court of the Eighteenth Judicial District of the State of Montana, and for the County of Liberty The National Farmers Bank of Owatonna, a corporation, Plaintiff. William F. Johnston: Florence E. Johnston: Frank Browne, as Receiver of The First National Bank of Chester, a corporation, and Chester Trading Company, a corporation, Defendant TO BE SOLD AT SHERIFF'S SALE, on the 29th day of August, 1925 at 2 o'clock P. M. of said day at the front door of the court house in the city of Chester, County of Liberty, State of Montana, the highest bidder for cash, the following described real estate to-wit: The west half of the northwest quarter of Section ten. and the north half of the northeast quarter of section and the southeast quarter of section in township 34 north range east M. M. Dated at Chester. Liberty CounMontana, this 31 day of July, 1925. JOHN H. MORGAN. Sheriff. By MATT MORGAN. Under Sheriff. Fred C. Gabriel. Malta, Montana. Attorney for Plaintiff (August 7-14-21-28)


Article from The Chester Reporter, September 15, 1925

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ALIAS SUMMONS IN THE DISTRICT COURT OF THE EIGHTEENTH JUDICIAL TRICT OF THE STATE OF MONTANA, IN AND FOR THE COUNTY OF LIBERTY SHELDON, Plaintiff, VS. HENRY WOARE, as Administrator the estate of John O. Berglin, Deceased; IDA MAY SHANE; FRANK BROWNE, as Receiver of The First National Bank of Chester, corporation; BIRD SOPHIA BERGLIN, and MARY E. SIMS, Defendants. STATE OF MONTANA TO THE ABOVE NAMED DEFENDANTS AND TO EACH OF THEM: YOU, AND EACH OF YOU, are hereby summoned to answer the com-


Article from The Liberty County Times, March 26, 1926

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In the District Court of the Eighteenth Judicial District State of Montana in and for the County Liberty. Mary A. Flint. Plaintiff. Glen Shepherd. Lottie Shepherd. his wife: The First National Bank of Chester. Frank Browne. Receiver First National Bank of Chester: Sheldon Brothers Company. corporation: Liberty County, body politic and corporate: CounTreasurer of Liberty County: Defendants. The State of Montana Sends Greetings to the DefendYOU ARE HEREBY SUMMONED to answer complaint in this actfiled in the Clerk of this copy of which served and file your serve copy upon the ney days after the service of this Summons exclusive day of service: and in case your failure appear judgment will be taken against you