gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
08336694aa106ec5
Response Measures
None
Receivership Details
Depositor recovery rate
96.5%
Date receivership started
1924-02-26
Date receivership terminated
1931-02-24
OCC cause of failure
Economic conditions
Share of assets assessed as good
16.8%
Share of assets assessed as doubtful
53.1%
Share of assets assessed as worthless
30.1%
Description
Shareholders voted voluntary liquidation Jan 21; temporary receiver named pending reorganization but bank remained in receivership.
Events (5)
1.January 6, 1890Chartered
Source
historical_nic
2.January 21, 1924Suspension
Cause
Voluntary Liquidation
Cause Details
Stockholders unanimously voted to go into voluntary liquidation (decision reached Jan. 21).
Newspaper Excerpt
STOCKMEN'S NATIONAL BANK TO LIQUIDATE BUSINESS...A decision to go into voluntary liquidation was reached Monday afternoon by stockholders of the Stockmen's National bank... Fort Benton, Jan. 21.
Source
newspapers
3.January 31, 1924Other
Newspaper Excerpt
Word has been received here of the appointment of J. P. Rigler, as temporary receiver of the Stockmen's National bank, pending reorganization.
Source
newspapers
4.February 26, 1924Receivership
Source
historical_nic
5.February 26, 1924Receivership
Newspaper Excerpt
Known receiver appointment (national bank receivership date per records); articles report temporary receivers and receiver actions in early Feb 1924.
Source
newspapers
Newspaper Articles (11)
1.January 24, 1924The Chinook OpinionChinook, MT
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Article Text
STOCKMEN'S NATIONAL BANK TO LIQUIDATE BUSINESS
Fort Benton, Jan. 21.—A decision to go into voluntary liquidation was reached Monday afternoon by stockholders of the Stockmen's National bank, one of the oldest banking institutions in Montana. Two-thirds of the stock unanimously approved such action, which is subject to the sanction of the comptroller of currency.
F. E. Stranahan, president of the bank, was appointed liquidating agent under bonds of $25,000. It is his estimate that the bank at the present time after charging off losses, is solvent with a surplus of $200,000. The bank has been in business here for 44 years and during that time it has paid in dividends to stockholders more than $900,000, officials said.
The Stockmen's National bank of Fort Benton, one of the oldest banks in Montana, and at one time fifth largest in the United States, suspended business Monday.
Mr. and Mrs. O. W. Olson left Monday for the coast, where they will visit for a few weeks. Upon their return to Hinsdale Mr. Olson will dispose of his garage here and move to Harlem, where he has purchased another garage.
3.February 1, 1924Great Falls TribuneGreat Falls, MT
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Article Text
Talk Reorganization of Stockman's Bank; Receiver in Charge
Special to The Tribune.
Fort Benton, Jan. 31.—Word has been received here of the appointment of J. P. Rigler, as temporary receiver of the Stockmen's National bank, pending reorganization. Much talk is heard here regarding the prospects of reopening the bank under a reorganization plan. It is reported that $75,000 of the necessary $100,000 has been pledged. Hopes are being entertained that the federal scheme to assist banks in this section will be utilized to aid in the reopening.
J. P. Rigler, the new receiver, was a resident of Fort Benton for some time and is well known in this vicinity and being acquainted with the conditions here should prove a good man for the position.
Talk Reorganization of Stockman's Bank; Receiver in Charge
Fort Benton, Feb. 2—Word has been received here of the appointment of J. P. Rigler as temporary receiver of the Stockmen's National bank, pending reorganization. Much talk is heard here regarding the prospects of reopening the bank under a reorganization plan. It is reported that $75,000 of the necessary $100,000 has been pledged. Hopes are being entertained that the federal scheme to assist banks in this section will be utilized to aid in the reopening.
J. P. Rigler, the new receiver, was a resident of Fort Benton for some time and is well known in this vicinity and being acquainted with the conditions here should prove a good man for the position.
Talk Reorganization of Stockman's Bank; Receiver in Charge
Fort Benton, Feb. 2—Word has been received here of the appointment of J. P. Rigler as temporary receiver of the Stockmen's National bank, pending reorganization. Much talk is heard here regarding the prospects of reopening the bank under a reorganization plan. It is reported that $75,000 of the necessary $100,000 has been pledged. Hopes are being entertained that the federal scheme to assist banks in this section will be utilized to aid in the reopening.
J. P. Rigler, the new receiver, was a resident of Fort Benton for some time and is well known in this vicinity and being acquainted with the conditions here should prove a good man for the position.
Plan Reorganization Fort Benton Bank
Fort Benton, Feb. 5.—(Special)—An announcement is made of the appointment of J. P. Rigler as temporary receiver of the Stockmen's National bank, pending reorganization. Much talk is heard here regarding the prospects of reopening the bank under a reorganization plan. It is reported that $75,000 of the necessary $100,000 has been pledged. Hopes are being entertained that the federal scheme to assist banks in this section will be utilized to aid in the reopening.
J. P. Rigler, the new receiver, was a resident of Fort Benton for some time and is well known in this vicinity.
7.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
8.February 13, 1926Great Falls TribuneGreat Falls, MT
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Article Text
Malta Bank Receiver Authorized to Sell Fixtures, Furniture
Frank Browne. receiver of the First National Bank of Malta was authorized to sell bank fixtures and furniture not needed in the conduct of the receiver's work. in an order signed by Judge Charles N. Pray in federal court here Friday The order permits the disposal of the property at either public or private sale at the highest prices obtainable. The sale will be subject to the approval of the comptroller of currency and the court. The petition of T. E. McClintock receiver of the Stockmen's National Bank of Fort Benton, for permission to compromise with Robert E. Camp in settlement of promissory note held by the bank also was approved by the court. Under the terms of the compromise a note for $7,610 secured by 90 acres of Gallatin county land. will be settled and the mortgage the land released upon payment of $6,000. This amount is more than could be obtained in any other legal manner. Mr. McClintock stated in his petition.
9.January 13, 1927PlainsmanPlains, MT
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Article Text
Bank Buys Building The Chouteau County bank has purchasthe Stockmen's National Bank building the corner of Front and Bond streets Benton. National Bank building was built in 1896, and occupied by the builders until the close of the bank in receiver was appointed, still in the hands of receiver. is very advantageously located, and substantial structure. Above the banking floor offices are by men. To the of the bank is the Fort Benton postoffice.
10.January 14, 1927The Bozeman CourierBozeman, MT
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Article Text
Bank Buys Building The Chouteau County bank has purchased the Stockmen's National Bank building at the corner of Front and Bond streets in Fort Benton. The Stockmen's National Bank building was built in 1896, and occupied by the builders until the close of the bank in January, 1924, when a receiver was appointed, and is. still in the hands of a receiver. It is very advantageously located, is a roomy and a substantial structure. Above the banking floor offices are occupied by professional men. To the rear of the bank is the Fort Benton postoffice.
11.January 21, 1927The Jordan TimesJordan, MT
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Article Text
Bank Buys Building The Chouteau County has purchas ed the Stockmen's National Bank building at the corner of Front and Bond streets in Fort Benton The National Bank building was 1896, and occupied by in the builders until the close the bank January, 1924, when receiver appointed, receiver. and is still in the hands of was cated, is very and advantageously substantial strue- loture. Above the banking floor offices are occupied by professional men. To the of the bank is the Fort Benton postoffice.
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.
