gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
7cc73ae5dfad916e
Response Measures
None
Description
Bank closed Oct 1931 and remained in receivership; later assets/building sold and new bank opened by different entity.
Events (8)
1.October 16, 1931Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed amid investigation of its affairs and later warrants and embezzlement-related charges against directors
Newspaper Excerpt
Business in this bank was suspended October 16, 1931
Source
newspapers
2.November 2, 1931Receivership
Newspaper Excerpt
Harry Boyce ... was today named receiver for Buchanan State bank, which closed three weeks ago. The appointment of Boyce was made by Judge Charles E. White ... on petition of Rudolph Reichert, state banking commissioner.
Source
newspapers
3.September 19, 1932Other
Newspaper Excerpt
The closed Buchanan State bank ... will pay its second 10 per cent dividend within days, was made known today.
Source
newspapers
4.October 18, 1932Other
Newspaper Excerpt
order granted the payment of 'Postmaster Money Order Account' in the Buchanan State bank to the postmaster general
Source
newspapers
5.February 18, 1933Other
Newspaper Excerpt
Buchanan Bank Receiver Asks Injunction to Halt Sale of Store Property
Source
newspapers
6.June 13, 1933Other
Newspaper Excerpt
directors of the Buchanan State bank charged with accepting deposits after the bank ... has been closed 1931
Source
newspapers
7.July 18, 1934Other
Newspaper Excerpt
The new bank will open in the old State bank building July 18 ... Judge Charles White ... signed an order authorizing Boyce the old bank receiver, to sell the bank and fixtures.
Source
newspapers
8.August 16, 1934Other
Newspaper Excerpt
a dividend of 15% will be paid to the Buchanan State Bank depositors by Receiver Harry Boyce beginning Saturday
Source
newspapers
Newspaper Articles (14)
1.November 2, 1931The Herald-PressSaint Joseph, MI
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Article Text
NAMED RECEIVER
Harry Boyce, prominently known Buchanan real estate and insurance broker and member of the Berrien county board of was today named receiver for Buchanan State bank, which closed three weeks ago. The appointment of Boyce was made by Judge Charles E. White in the county circuit court on petition of Rudolph Reichert, state banking commissioner. His bond will be $25,000.
WEATHER FORECAST for Lower Michigan: Generally fair tonight and Tuesday, except unsettled Tuesday in north portion; somewhat warmer Tuesday except along Lake Michigan and in east portion tonight. recorded at the United States coast guard station: SUNDAY
Midnight, MONDAY
Noon,
2.November 2, 1931The Herald-PalladiumBenton Harbor, MI
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Article Text
BUCHANAN STATE RECEIVER IS APPOINTED
Harry Boyce, Buchanan city supervisor, was named temporary receiver of the Buchanan State bank which closed two weeks ago. The appointment made by Circuit Judge Charles E. White WAS filed late Saturday by State Attorney Paul Voorheis and his assistant, Wendell Brown. Supervisor Boyce filed the required $25,000 bond from the Royal Indemnity Co., of New ork.
3.September 19, 1932The Herald-PressSaint Joseph, MI
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Article Text
PAID OUT SOON 2ND DIVIDEND
Payment by Buchanan State Bank Authorized by Judge White
The closed Buchanan State bank Buchanan will pay its second 10 per cent dividend within days, was made known today. Authorization of the dividend was contained in an order signed by Judge Charles White and filed in Berrien county circuit court today Petition for the second dividend was filed by Phillip Landsman, behalf of the bank's receivBoyce The asserts will be paid to depositors the second savings depositors and $17,885.94 to commercial depositors. Receiver Boyce paid the first per dividend August the Buchanan bank's latest dividend the second Berien county within the past Worth Bean, receiver for the Berrien County announced Saturday that the Benton Harbor would pay first dividend of 20 per cent Approximately 2,500 depositors will $125,612.
4.October 18, 1932The Herald-PressSaint Joseph, MI
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Article Text
White Authorizes Two Closed Banks to Make Postal Fund Payments
Two orders were signed by Judge Charles White in Berrien county circuit court today authorizing payment of postal deposits in two closed banks in Berrien county. This the third order Judge White has signed granting the payments of postal deposits as preferred claims. The orders signed today grant the payment of postal deposits the Benton Harbor State bank to the Benton Harbor postmaster. The tition order were approved Attorney H. Gray, who represents the bank. The second order granted the paythe "Postmaster Money Order Account' in the Buchanan State bank to the postmaster general, petition approved the of Burns Hadsell, which represents the bank receiver. Two months ago the court granted order payment posdeposits in the Stevensville bank.
5.October 18, 1932The Herald-PalladiumBenton Harbor, MI
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Article Text
TWO MORE BANKS ORDERED TO PAY POSTAL DEPOSITS
Two orders signed by Judge Charles White the Berrien county cuit court today grant payment of postal deposits in two closed banks in Berrien county This the third order granting the payments postal deposits preferred claims signed by Judge White. The orders signed today grant the payment of postal deposits in the Benton Harbor State Bank the Benton Harbor postmaster petition and order approved by Attorney Gray, who represents the bank. The second order granted the payment of of "Post master Money Order Account" in the Buchanan State Bank to the postmaster general, petition approved by the law firm of Burns Hadsell. which represents the bank receiver. Two months ago the court granted the order the postal posits in the Stevensville bank to be paid.
6.February 18, 1933The Herald-PressSaint Joseph, MI
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Article Text
Buchanan Bank Receiver Asks Injunction to Halt Sale of Store Property
An injunction and a receivership is asked in a suit filed in Berrien county circuit court today by Harry Boyce, receiver for the Buchanan State bank, against Louis O. Runner, Charles A. Lutz, Frank Gunther, R. H. Johns and Matt J. Kelling. According to the bill of complaint filed by Attorney Phil Landsman and the law firm of Burns & Hadsell, which represents the bank receiver, Runner, a Buchanan hardware dealer, owes the bank $3,550 and proposes to dispose of the property and give a chattel mortgage on the merchandise. The bank receiver asks that the defendants be restrained by an injunction from disposing of the property and that the court appoint a receiver to protect the creditors.
7.March 15, 1933The Herald-PressSaint Joseph, MI
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Article Text
BUCHANAN BANK SIFT BY GRAND JURY IS HINTED
Preliminary Testimony Is Taken from Score of Witnesses
Preliminary testimony in the state's investigation determine whether grand jury will be called to probe the affairs of the closed Buchanan State bank was taken yesterday. Attorney Leo Moriarty from the attorney general's took testimony all yesterday at the Buchanan bank from nearly witnesses, Prosecuting Attorney Harvey Holbrook revealed today. Attorney Moriarty took preliminary statements from Benton township residents are seeking grand jury investigation of township affairs. These statements were taken last night at the Hotel Vincent The assistant attorney general turned to Lansing today. He will turn next week, however, to continue the preliminary investigations which will determine whether grand jury investigation will be made these and other matters, Prosecutor Holbrook intimated today there is likelihood of grand jury investigabeing made the Buchanan State bank affairs. The bank has been closed since October, 1931 Enemies Supervisor James Jakway are pushing their demand for an investigation of Benton township affairs, despite report made by David Peck, from the auditor general's department who audited the township books last year report, made public recently exonerated Supervisor Jakway from any misfeasance malfeasance in office Supervisor Jakway renominated by both the Democratic and Citizens parties in the township caucus held last week Other matters which the attorney general's office intends inquire into in Berrien include the activities of collection agencies Prosecutor Holbrook announced today that collection agencies operating now without filed the proper bond required by law will be without waiting for any possible grand jury investigation
8.June 6, 1933The Herald-PressSaint Joseph, MI
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Article Text
RECEIVERS
Salaries, Effective July Announced by White new schedule of salaries for ceivers of closed state banks Berrien was today Judge Charles White in the Berrien circuit court. Letters advising the receivers that their would be reduced on July salaries and fees fixed by the state banking have been mailthe receivers. The new salary schedule for reivers of banks Berrien' county follows: Worth receiver for the Berrien County bank, reduced from $3,600 to $2,500. Harry Boyce, Buchanan State bank, reduced from 2,000. Herbert Roe, receiver of the New Buffalo State bank, reduced from $1,500. Gore, an State bank, reduced from $3,000 $1,800. This the second reduction in ceivers' salaries which has made through the court and state banking department since the receivers were first some the cuts now more than per cent. case of Bean of the Berrien County bank the first placed and now to the been made in the salaries bank the of the state banking depart-
9.June 13, 1933Battle Creek Moon-JournalBattle Creek, MI
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Article Text
BUCHANAN BANKERS NAMED IN WARRANTS
Buchanan. June directors the Buchan State bank charged with accepting deposits after they the bank rants issued yesterday the Peace Thomas The bank has been closed 1931. Those named in the warrants Charles Landis. Jesse William George Richards and Herbert Roe Roe the cashier of the bank well director. He charged with embezzlement in additional warrants
HELD BY POLICE. Port Huron, June being held Boney police today pending tion his story that he shot says Barnes defense after Brown broke into his home. Po found body on couch Hunter's home.
10.June 29, 1933The Herald-PalladiumBenton Harbor, MI
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Article Text
Gore Harvey for legal work in connection with suits brought against closed banks, including First National Bank Buchanan, Buchanan State and the Berrien County bank Benton The firm Gore Harvey were appointed legal advisors with the prosecuting attorney the judiciary handling the lection of county funds in closed banks
11.July 17, 1933The Herald-PalladiumBenton Harbor, MI
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Article Text
STATEMENT OF CLOSED BANK IS RELEASED
BUCHANAN Following issued June 1933 First National bank of Buchanan showing the condition of that instituBusiness in this bank was suspended October 16, 1931, W. R. Payne the receiver. Assets date of suspension, $655,additional assets acquired, (book value, not actual) $26,847.75; Stock assessment, one hundred percent. Total cash collected from assets and stock assessment, $361,414.26. Offset allowed on assessments $36,854. Total losses charged off, Total assets accountfor, $732,154.98. Total liabilities, this date, Total liabilities accounted for $555,315.68. Total collections to be accounted for, $433,916.56. Since the bank closed its doors twe dividends have been paid to its depositors to 55 percent and aggregating The Buchanan State bank which closed doors the same time has paid dividends twice, 10 percent each time and totalling approximately
12.June 28, 1934The Herald-PressSaint Joseph, MI
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Article Text
NEW BUCHANAN-GALIEN BANK OPEN JULY BUY BUCHANAN BLDG.
June 28 (Special) Buchanan business men and residents will have banking facilities for the first time since October, 1931, the result of the purchase of the Buchanan State Bank building and fixtures the new State The new bank will open in the old State bank building July 18, and will continue maintain branch Galien. The new bank recently changed its name from the Galien State bank to the State bank and increased capitalization from to Judge Charles White in the Berrien county court signed an order authorizing Boyce the old bank receiver, to sell the bank and fixtures. Under the terms of the Mr. will continue to operate the receivership the Buchanan State bank in the building without rental costs. bank building will be completeredecorated.
13.July 5, 1934The Berrien County RecordBuchanan, MI
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State Receivership to Have Directors Quarters in Bank force is engaged replastering the Buchanan State Bank quarters by the Galiensoon to be occupied State Bank. The State Buchanan Harry and Bank Roe, will the his clerk, Lee occupy back room, formerly the director's the remainder the for trust.
14.August 16, 1934The Berrien County RecordBuchanan, MI
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Article Text
State Department Comments Record of Dividend on ment; To Pay in Cash. dividend of 15% will be paid to of the Buchanan depositors State Bank by Receiver Harry Boyce beginning Saturday the dividend and bringing the dividends paid date to The order for the release of the dividend was signed by Judge White Monday and Charles then approved by the state banking and the funds department leased by the state treasurer. The department comstate banking mented on the excellence of the record of the local institution dividends in comparipayment other banks under isdiction The arrangements the dividend made thru the firm of Landsman. local legal Burns Hadsell. Receiver Bovce stated that intimation made earlier that the dividend pending was made was the of the the Home Owners Loan Corporation, but that being made without recourse to HOLC loans.
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.
