Lennon State Bank - Lennon, MI

Episode Information

Episode UID: 74070771632
Episode Type: Suspension → Closure
Bank Type: state
Bank ID: 7407077 routing
Routing Number: 74-0707
Start Date: December 17, 1935
Location: Lennon, Michigan (42.984, -83.930)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: aa4f0d02f9bb8d47

Response Measures

None

Description

Article states the bank closed and FDIC paid insured depositors; no reopening mentioned.

Events (1)

1. December 17, 1935 Suspension

Cause Details: Bank closed and deposits up to $5,000 were paid by FDIC; specific insolvency cause not given.
Newspaper Excerpt: The Lennon (Mich) State bank, he said, was the first in Michigan to close since deposit insurance became effective.
Source: newspapers

Newspaper Articles (1)

1. December 17, 1935 Ironwood Daily Globe Ironwood, MI

Article Text

BANK INSURANCE PLAN MEETS FIRST BIG TEST Lansing, Dec. 17—(AP)—State Banking Commissioner R. E. Reichert said today that the Federal Deposit Insurance corporation, guaranteeing all deposits of participating banks up to $5,000 had met successfully its first real test in Michigan. The Lennon (Mich) State bank, he said, was the first in Michigan to close since deposit insurance became effective. No deposits exceeded $5,000, he said, and, at the close of last week 323 of the 465 depositors had received their money in full, totalling $57,926. Offsets increased the claims actually met to $60,266. Of the remainder, he said, 92 accounts are of less than $5,