Montgomery County National Bank (Cherryvale, KS)

View Charter #4749 on SPMC View balance sheet

Episode Information

Episode UID
474901577
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
47490 national
Charter Number
4749
Start Date
May 7, 1931
Location
Cherryvale, Kansas (37.270, -95.552)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
3121da14bb4217a9

Response Measures

None

Receivership Details

Depositor recovery rate
14.6%
Date receivership started
1931-05-07
Date receivership terminated
1935-05-29
Share of assets assessed as good
16.2%
Share of assets assessed as doubtful
62.0%
Share of assets assessed as worthless
21.8%

Events (3)
1. June 7, 1892 Chartered
Source
historical_nic
2. May 7, 1931 Receivership
Source
historical_nic
3. May 7, 1931 Receivership
Newspaper Excerpt
The Montgomery County National Bank of Cherryvale, Kan., was placed in receivership on May 7, 1931
Source
newspapers

Newspaper Articles (3)
1. October 8, 1931 Bartlesville Examiner-Enterprise Bartlesville, OK

Article Text

RESIGNS Jeff H. Hooker. Dallas, Texas, Named Receiver for Central National National and Four Others Jeff H. Hooker of Dallas Texas has been named receiver for Central National bank well receiver for four other banks cated in this state, Kansas and Ar kansas. He succeeds Irving Page. resigned the first of the month to accept position manager the Federal Intermediate Credit bank Wichita, Kan Mr. Hooker has had wide perience bank receiver for government in the southwest. particularly this state and Texas. In addition to his duties with the local bank. Mr. Hooker will have charge of the affairs of the First National bank in the First National bank Siloam Springs, the Montgomery County National bank of Cherryvale, Kan., and Commercial Na. tional bank. Independence, Kan.,

2. June 22, 1935 Richmond Daily Register Richmond, KY

Article Text

J. F. O'Conner has announced that during the month of May, 1934, 14 insolvent national banks were liquidated, the receiverships thereof being financially closed, making a total of 65 receiverships finally closed or restored to solvency since his last annual report to congress compiled as of October 31, 1934. The First National Bank of Havensville, Kan., was placed in receivership on October 11, 1933, and all depositors and other creditors were paid 100 per cent principal with interest in full at the legal rate amounting to an additional dividend of 6.1857 per cent. Total payments to creditors, including offsets allowed, aggregated $62,006 and the stockholders received $754 together with the assets remaining uncollected. The Montgomery County National Bank of Cherryvale, Kan., was placed in receivership on May 7, 1931, and disbursements, including offsets allowed, to depositors and other creditors aggregated $153,358, which represented 67.2 per cent of the total liabilities at date of failure. Unsecured depositors received dividends amounting to 14.63 per cent of their claims. The Commercial National Bank of Independence, Kan., was placed in receivership on March 14, 1930, and disbursements, including offsets allowed, to depositors and other creditors aggregated $4,488,385, which represented 84.4 per cent of the total liabilities at date of failure. Unsecured depositors received dividends amounting to 76.41115 per cent of their claims. The Billings National Bank of Billings, Okla., was placed in receivership on October 17, 1930, and disbursements, including offsets allowed, to depositors and other creditors aggregated $142,436, which represented 88.2 per cent of the total liabilities at date of failure. Unsecured depositors in this case received dividends amounting to 85.62 per cent of their claims. The First National Bank of Tower City, N. D., was placed in receivership on December 10, 1929, and disbursements, including offsets allowed, to depositors and other creditors aggregated $57,197, which represented 73.7 per cent of the total liabilities at date of failure. Unsecured depositors received dividends amounting to 62.18 per cent of their claims. The First National Bank of Huntsville, Tenn., was placed in receivership on February 9, 1933, and disbursements, including offsets allowed, to depositors and other creditors aggregated $50,314, which represented 70.8 per cent of the total liabilities at date of failure. Unsecured depositors in this case received dividends amounting to 58.7 per cent of their claims. The First National Bank of Milton, N. D., was placed in receivership on August 11, 1932, and disbursements, including offsets allowed, to depositors and other creditors aggregated $36,016, which

3. June 24, 1935 The Niles Daily Star Niles, MI

Article Text

The Comptroller of the Currency, J. F. T. O'Connor, has announced that during the month of May, 1935, 14 insolvent national banks were liquidated, the receiverships thereof being finally closed, making a total of 65 receiverships finally closed or restored to solvency since his last annual report to congress compiled as of October 31, 1934. The First National Bank of Havensville, Kansas, was placed in receivership on October 11, 1933 and all depositors and other creditors were paid 100 per cent principal with interest in full at the legal rate amounting to an additional dividend of 6.1857 per cent. Total payments to creditors, including offsets allowed, aggregated $62,006 and the stock holders received $754 together with the assets remaining uncollected. The Montgomery County National Bank of Cherryvale, Kansas, was placed in receivership on May 7, 1931 and disbursements, including offsets allowed, to depositors and other creditors aggregated $153,358, which represented 67.2 per cent of the total liabilities at rate of failure. Unsecured depositors received dividends amounting to 14.63 per cent of their claims. Receive Dividends The Commercial National bank of Independence, Kansas, was placed in receivership on March 14, 1930 and disbursements, including offsets allowed, to depositors and other creditors aggregated $4,438,335, which represented 84.4 per cent of the total liabilities at date of failure. Unsecured depositors received dividends amounting to 76.4115 per cent of their claims. The Billings National Bank of Billings, Oklahoma, was placed in receivership on October 17, 1930 and disbursements, including offsets allowed, to depositors and other creditors aggregated $142,436, which represented 38.2 per cent of the total liabilities at date of failure. Unsecured depositors in this case received dividends amounting to 35.62 per cent of their claims. The First National Bank of Tower City, North Dakota, was placed in receivership on December 10, 1929 and disbursements, including offsets allowed, to depositors and other creditors aggregated $57,197, which represented 73.7 per cent of the total liabilities at date of failure. Unsecured depositors received dividends amounting to 62.18 per cent of their claims. 70 Pct. Pay Off The First National Bank of Huntsville, Tennessee, was placed in receivership on February 9, 1933 and disbursements, including offsets allowed, to depositors and other creditors aggregated $50,814, which represented 70.8 per cent of the total liabilities at date of failure. Unsecured depositors in this case received dividends amounting to 58.7 per cent of their claims.