Homestead State Bank (Homestead, MT)

Episode Information

Episode UID
93026371495
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
9302637 routing
Routing Number
93-0263
Start Date
July 18, 1924
Location
Homestead, Montana (48.421, -104.539)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
0a8d8a73d95edd08

Response Measures

None

Description

Multiple notices show a receiver administering and selling assets, indicating insolvency and permanent closure.

Events (4)
1. July 18, 1924 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank found to have improper payments/asset issues and a receiver was appointed to settle claims.
Newspaper Excerpt
the bank received the money to which they were not entitled and owe it to the school district. The item of $495.00 is therefore purely a matter between the school district and the receiver of the bank at Homestead.
Source
newspapers
2. September 25, 1925 Other
Newspaper Excerpt
M. M. Olson, the Receiver of the Homestead State Bank, Homestead, Montana, will receive sealed bids ... for the sale of ... The Homestead State Bank building, located in the town of Homestead.
Source
newspapers
3. September 9, 1926 Receivership
Newspaper Excerpt
NOTICE IS HEREBY GIVEN by the undersigned, Fred Ibsen, Receiver of Homestead State Bank of Homestead, Montana, to the creditors of and all persons having claims against said bank, to exhibit them ... within sixty days ... to the said Receiver at his office in Plentywood, Montana.
Source
newspapers
4. December 17, 1927 Other
Newspaper Excerpt
the undersigned, Receiver of Homestead State Bank, will sell at private sale any or all of the remaining assets of said bank ... Dated this 17th day of December, 1927. FRED IBSEN, Receiver.
Source
newspapers

Newspaper Articles (11)
1. July 18, 1924 The Producers News Plentywood, MT
Article from The Producers News, July 18, 1924

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Article Text

# ATTEMPTS TO HOLD # TREASURER LIABLE FOR # ACTS OF BOARD OF # SCHOOL DISTRICTS. Referring to the examiners' report on page five of this issue, it will be found that besides the checks, most of which are on the State Bank of Plentywood, the examiner also attempts to make Treasurer Olsen liable for $1,320.00 paid out for coupons clipped from a $22,000 bond issue of School Dist. No. 20, at Plentywood. His argument in this connection is a monumental farce as the School Board made its own terms with the bonding company, and agreed to allow the amount in question as a discount according to later information. Mr. N. L. Nelson chairman of the school board of Dist. 20, personally made the settlement with the county treasurer in April, 1921, and specifically stated that the amount turned over to the county treasurer, including the coupons, was the agreed purchase price of the bonds between the bonding company and the school board. Of course the county treasurer had no alternative but to accept the amount and it was credited to the school district exactly in accordance with the school board's instructions. In the case of Dist. 41, the clerk of that district and who was then also cashier of the Homestead State Bank, had clipped the coupons from the bonds before they were presented for registration, and later presented those coupons for payment. The payment of these coupons was the direct cause of an error on the part of the school board more than on the part of the treasurer, and the coupons were not cancelled as indicated in the examiner's report before they were presented for payment. The statement in the report in that regard is maliciously libelous and the bank received the money to which they were not entitled and owe it to the school district. The item of $495.00 is therefore purely a matter between the school district and the receiver of the bank at Homestead. An item of $237.00 criticized in the report is purely and simply an attempt to discredit Sheriff Salisbury. Mr. Salisbury paid his fees in the form of checks for bookkeeping reasons and later cashed the checks at his office. In fact the examiner knew all of the time that checks were paid before he completed his examination, but evidently decided to make some political propaganda for Oscar Collins.

2. January 9, 1925 The Producers News Plentywood, MT
Article from The Producers News, January 9, 1925

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Article Text

# Jens Ibsen Resigns From # Board of County Commrs. (Continued from Page One) -hind Ibsen's resignation is that during the past two years Jens has spent twice his quota of road moneys, most of which went to build roads to his two or three farms in the Dooley country and that in order to avoid the increasing criticism of his neighbors for failing to help get some passable roads for them and for depleting the road fund for his own sole benefit, he decided to pass the buck to some one else. His advisors, it is said, prevailed upon Ibsen to resign before Judge Comer retired so as to give him the opportunity to make the appointment. # APPOINTMENT # IS A PUZZLE Just why Comer should appoint a commissioner from the extreme south end of the county to fill the vacancy of the commissioner from the northeast district is not known, but the people along the Soo line feel that it was a parting shot by the old gang through Comer at them for their staunch support of the Farmer-Labor candidates in the past and for the solid vote they rolled up against the old gang in the last election. # FRENCH BACKED # BY BANKERS The appointment of French, it is said, was made by Comer upon the solicitation of Banker Ed. Powers of Medicine Lake and Mark Olson, defeated candidate for Sheriff and now receiver of the defunct Farmers State Bank of Medicine Lake, and the other politicians from Comer's home town. It is true that they had some consideration coming when we look at the last election returns which reveal the fact that one precinct in Medicine Lake gave the old gang candidates a unanimous vote with the exception of one person. # FRENCH WILL LOOK # AFTER NORTHEAST AFFAIRS As matters now stand the commissioner from the extreme south end of the county will be required to look after the road and other matters in the northeast part, which will involve considerable trouble to the new commissioner and the people in the northeastern section and also considerable extra expense to the county. # FRENCH CLOSELY CON- # NECTED WITH BANKERS Mr. French is one of the old timers from the Homestead country and is a farmer on a lage scale. He is president of the French Farming Co., and principal owner of that concern under which title he is conducting his farming operations. Mr. French was also at one time president of the Homestead State Bank and was one of its principal stockholders when that institution closed about two years ago. # IBSEN'S TERM WAS # RANK FAILURE Jens Ibsen, the retiring member, was elected on the N. P. L. ticket in 1920, together with Tyler, both being unopposed in the general election. Ibsen was endorsed upon the recommendation of J. F. Murray and Niels Christensen, both of whom pretended to be radicals at that time. Mr. Ibsen, after his election, greatly disappointed the organization which was responsible for the high honor accorded him, by his collaborations with those who were opposed to the farmers and their program. # WILL MAKE TRIP # TO DENMARK It is reported at this time that Mr. Ibsen will leave in a short time for Denmark and that he will stay about a year, but Jens Ibsen's neighbors and the people who elected him to office will never forget the part he played in fighting their movement after they had given him their confidence and their support. Jens Ibsen goes out of the Commissioners' office a sorry figure, indeed. A traitor to those who were once his friends and a easy mark to those who used him to further their own ends.

3. September 25, 1925 The Producers News Plentywood, MT
Article from The Producers News, September 25, 1925

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Article Text

NOTICE 02 SALE NOTICE IS HEREBY GIVEN, That the undersigned, M. M. Olson, the Receiver of the Homestead State Bank, Homestead, Montana, will receive sealed bids up to and including the 8th day of October, A. D. 1925, for the sale of the following described property, located in the town of Homestead, Montana, to-wit: The town hall or opera house, situated on Lot Thirteen (13) and the West half of Lot Fourteen (14), in Block Two (2) of the Original Townsite of Homestead. The Homestead State Bank building, located in the town of Homestead. The blacksmith shop building, now being operated by George Thompson, in the town of Homestead, together with the garage and small dwelling used in connection. Separate bids are desired on each of the pieces of property and the bids may include the building and lot or the buildings alone to be moved off. Dated this 23rd day of September, A. D. 1925. M. M. OLSON, Receiver of the Homestead State Bank, Hometead, Montana. 25-12

4. October 2, 1925 The Producers News Plentywood, MT
Article from The Producers News, October 2, 1925

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Article Text

NOTICE OF SALE NOTICE IS HEREBY GIVEN, That the undersigned, M. M. Olson, the Receiver of the Homestead State Bank, Homestead, Montana, will receive sealed bids up to and including the 8th day of October, A. D. 1925, for the sale of the following described property, located in the town of Homestead, Montana, to-wit: The town hall or opera house, situated on Lot Thirteen (13) and the West half of Lot Fourteen (14), in Block Two (2) of the Original Townsite of Homestead. The Homestead State Bank building, located in the town of Homestead. The blacksmith shop building, now being operated by George Thompson, in the town of Homestead, together with the garage and small dwelling used in connection. Separate bids are desired on each of the pieces of property and the bids may include the building and lot or the buildings alone to be moved off. Dated this 23rd day of September, A. D. 1925. M. M. OLSON, Receiver of the Homestead State Bank, Hometead, Montana. 25-t2

5. April 16, 1926 The Producers News Plentywood, MT
Article from The Producers News, April 16, 1926

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Article Text

# County Recovers $495 From # Receiver of Homestead Bank An Order Was Handed Down By Judge Paul This Week in in Which Fred Ibsen, Receiver of the Homestead State Bank, Was Directed to Pay the Sum of $495.00 to the Treasurer of Sheridan County in Settlement of a Claim Prosecuted By County Attorney Erickson, on Behalf of the County Commissioners in An Action Filed Recently.

6. September 10, 1926 The Producers News Plentywood, MT
Article from The Producers News, September 10, 1926

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Article Text

NOTICE IS HEREBY GIVEN by the undersigned, Fred Ibsen, Receiver of Homestead State Bank of Homestead, Montana, to the creditors of and all persons having claims against said bank, to exhibit them with the necessary vouchers within sixty days after the first publication of this notice, to the said Receiver at his office in Plentywood, Montana, or said claims may be disallowed. Dated September 9th, 1926. FRED IBSEN,

7. September 17, 1926 The Producers News Plentywood, MT
Article from The Producers News, September 17, 1926

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Article Text

NOTICE IS HEREBY GIVEN by the undersigned, Fred Ibsen, Receiver of Homestead State Bank of Homestead, Montana, to the creditors of and ali persons having claims against said bank, to exhibit them with the necessary vouchers within sixty days after the first publication of this notice, to the said Receiver at his office in Plentywood, Montana, or said claims may be disallowed. Dated September 9th, 1926. FRED IBSEN, Receiver. First publication, Sept. 10, 1926. Last publication, Oct. 1, 1926.

8. September 24, 1926 The Producers News Plentywood, MT
Article from The Producers News, September 24, 1926

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Article Text

NOTICE IS HEREBY GIVEN by the undersigned, Fred Ibsen, Receiver of Homestead State Bank of Homestead, Montana, to the creditors of and all persons having claims against said bank, to exhibit them with the necessary vouchers within sixty days after the first publication of this notice, to the said Receiver at his office in Plentywood, Montana, or said claims may be disallowed. Dated September 9th, 1926. FRED IBSEN, Receiver. First publication, Sept. 10, 1926. Last publication, Oct. 1, 1926.

9. October 1, 1926 The Producers News Plentywood, MT
Article from The Producers News, October 1, 1926

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Article Text

NOTICE IS HEREBY GIVEN by the undersigned, Fred Ibsen, Receiver of Homestead State Bank of Homestead, Montana, to the creditors of and ali persons having claims against said bank, to exhibit them with the necessary vouchers within sixty days after the first publication of this notice, to the said Receiver at his office in Plentywood, Montana, or said claims may be disallowed. Dated September 9th, 1926. FRED IBSEN, Receiver. First publication, Sept. 10, 1926. Last publication, Oct. 1. 1926.

10. December 23, 1927 The Producers News Plentywood, MT
Article from The Producers News, December 23, 1927

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Article Text

NOTICE IS HEREBY GIVEN, that in pursuance of an order duly made by said Court on the 17th day of December, 1927, in the above entitled matter, the undersigned, Receiver of Homestead State Bank, will sell at private sale any or all of the remaining assets of said bank at any time prior to 6th day of January, 1928; and that any and all of said assets then remaining unsold and undisposed of, will be sold at public auction, collectively or separately, for the best cash price obtainable, on said 6th day of January, 1928, commencing at the hour of two (2) o'clock P. M. of said day and continuing until all of said assets are disposed of, said sale to be had at Homestead State Bank building, in Homestead, Sheridan County, Montana. Said property to be sold will consist of the following described real estate, to-wit: Lot 12 of Block 3, Homestead original townsite, with the building thereon situate. And the balance of said assets will consist of promissory notes, secured and unsecured; rights of action for balance due on stockholder's liability; judgments, overdrafts, furniture and fixtures, and other miscellaneous articles, all as set forth and described in the list on file in the above-entitled action, a copy of which list will also be on file with J. S. Olness at Homestead, Montana, for the inspection of any persons interested therein. Terms of sale is cash, payable at the time of sale. Dated this 17th day of December, 1927. 38-t2 FRED IBSEN, Receiver.

11. February 10, 1928 The Producers News Plentywood, MT
Article from The Producers News, February 10, 1928

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Article Text

STATE OF MONTANA, Plaintiff, -versusSheridan County State Bank, a bankin Corporation, Defendant. NOTICE IS HEREBY GIVEN, that the undersigned Receiver of the above named insolvent bank will offer at private sale at any time prior to the 16th day of February, 1928, and thereafter and on said 16th day of February, 1928, at the hour of Two (2) o'clock p. m. of said day, at the office of the undersigned Receiver, at Plentywood, Montana, will offer for sale the remaining assets of said bank at public auction of whatsoever nature, collectively or separately, for the best cash price obtainable and subject to the confirmation of abovenamed court. The personal property to be sold consists of Bills and Notes Receivable, Stockholders' Liabilities, and Furniture and Fixtures, a list of which said personal property is on file in the above-entitled Court, and also with the undersigned Receiver. AND NOTICE IS HEREBY FURTHER GIVEN, that at said time and place, the undersigned Receiver will offer for sale the Bills and Accounts Receivable belonging to Homestead State Bank, Citizens State Bank of Antelope, and Farmers State Bank, Medicine Lake, Montana, at public auction, collectively, a list of which said Bills and Accounts Receivable is on file with the undersigned Receiver. Dated this 30th day of January, 1928. FRED IBSEN, 44-t2 Receiver.