gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
eaad5f9460a77a94
Response Measures
None
Receivership Details
Depositor recovery rate
28.0%
Date receivership started
1924-03-22
Date receivership terminated
1928-12-31
OCC cause of failure
Economic conditions
Share of assets assessed as good
25.9%
Share of assets assessed as doubtful
50.5%
Share of assets assessed as worthless
23.7%
Description
Known receivership date (1924-03-22) used as authoritative; contemporaneous stories discuss reopening efforts but receiver remained in place.
Events (4)
1.June 16, 1909Chartered
Source
historical_nic
2.March 22, 1924Receivership
Source
historical_nic
3.March 22, 1924Receivership
Newspaper Excerpt
R. Riddick has been receiver the First National bank of Polson since closed year and half ago (article noting receiver change in 1925).
Source
newspapers
4.March 22, 1924Suspension
Cause
Government Action
Cause Details
Bank closed and placed in receivership (receiver appointed March 22, 1924).
Newspaper Excerpt
Efforts are being made to secure sufficient agreements to enable the First National Bank of Polson to reopen by September 1.
Source
newspapers
Newspaper Articles (11)
1.July 25, 1924The Glasgow CourierGlasgow, MT
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Article Text
BANKS REOPEN AS BUSINESS REVIVES AND CROPS LOOM
With a bounteous crop in prospect, a business revival in sight and confidence returning to panicky depositors since the epidemic of bank suspensions has past, bankers and business men throughout the state are at work with renewed energy in the reorganization and reopening of many of the unfortunate institutions, says the Montana Banker.
At Havre, the reorganized Security State Bank is to open for business the latter part of July under the name of the Hill County State Bank. The Farmers and Merchants Bank of Winnett has just begun business, succeeding the Winnett State Bank. The committee working on the reorganization of the Commercial National Bank of Miles City announces positively that the program will proceed and that the bank will open in the coming fall. The reorganization of the American Bank and Trust Company of Missoula is proceeding rapidly. A committee has been named to carry on the work and frequent meetings of depositors are being held. Efforts are being made to secure sufficient agreements to enable the First National Bank of Polson to reopen by September 1. A plan for the reopening of the State Bank of Culbertson, whereby the new bank will begin without a penny of borrowed money, has been presented to depositors.
2.November 18, 1925The SearchlightHardin, MT
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Article Text
Receiver for Three Banks
R. Riddick, who been receiver the First National bank of Polson since closed year and half ago, has and has been succeeded Swan, who receiver the by First National banks at and Charlo. Mr. Swan handle the afof all three banks and will assisted by Livingston.
3.November 19, 1925Belt Valley TimesArmington, MT
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Article Text
Receiver for Three Banks Riddick, has been receiver the First National bank of Polson since closed and half ago, has resigned and has been Swan, who of the First National banks and Charlo. Mr. Swan will handle the fairs of all three banks and will assisted by Livingston.
Receiver for Three Banks
R. Riddick, who has been receiver the First National bank of Polson since closed and half ago, year and has been succeeded has Swan, of the National banks and First Charlo. Mr. Swan will handle the afof all three banks and will fairs assisted by Livingston.
5.November 19, 1925The Columbus NewsColumbus, MT
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Article Text
Receiver for Three Banks
Riddick. has been receiver the First National bank Polson since closed and half has resigned and has been succeeded Swan, who receiver of the First National banks Ronan and Charlo. Mr. Swan will handle fairs all three banks and will assisted by Livingston.
6.November 19, 1925Jefferson Valley NewsWhitehall, MT
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Article Text
Receiver for Three Banks of the First National bank of Polson since closed year and half ago, has resigned and has been succeeded Swan. who receiver of the First National banks and Charlo. Mr Swan will handle the affairs of three banks and assisted by Livingston.
Receiver for Three Banks who has been receiver the National bank Polson since closed year and half has resigned and has been succeeded by Swan, who receiver of the First National banks Ronan and Charlo. Mr. Swan will handle the fairs all three banks and will be assisted by Livingston.
8.November 20, 1925Plevna HeraldPlevna, MT
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Article Text
Receiver for Banks
Riddick, who has of the First National bank of Polson since closed year and half has and Swan, who receiver the First National banks Ronan and Charlo. Mr. Swan will handle the fairs of all three banks and will be assisted by Livingston.
Receiver for Three Banks Riddick. been receiver of the First National bank of Polson since closed year and half ago resigned and has been who receiver of the First National banks Ronan and Charlo. Mr. Swan will handle all three banks and will assisted by Livingston.
10.November 27, 1925The Powder River County ExaminerBroadus, MT
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Article Text
Receiver for Three Banks been National bank Polson since closed year and half has resigned and has been succeeded Swan. receiver First National banks and Charlo. Mr. Swan will handle fairs all three banks and will assisted Livingston.
11.November 19, 1926News-HeraldFromberg, MT
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Article Text
Receiver for Three Banks Riddick, has been of the First National bank of Polson since closed year and ago, has and has been by who the First National banks Charlo. Mr. Swan will handle the fairs all three banks and will assisted by Livingston.
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.
