Peoples State Bank (Sheridan, MI)

Episode Information

Episode UID
74083371590
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7408337 routing
Routing Number
74-0833
Start Date
June 1, 1932*
Location
Sheridan, Michigan (43.212, -85.074)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
4bcbbb13068834a3

Response Measures

None

Description

OCR errors in articles corrected (e.g., 'Sheritreasurer' -> Sheridan treasurer).

Events (2)
1. June 1, 1932* Suspension
Cause
Government Action
Cause Details
Bank placed under limited withdrawals and receivership (payments restricted)
Newspaper Excerpt
period of limited withdrawals
Source
newspapers
2. June 2, 1932 Receivership
Newspaper Excerpt
President of Closed Institution at Sheridan ... the closed Peoples State bank ... the bank placed receivership. Another filed naming Bower ... defendant. Bower alleged have taken $1,000 county funds violation of the drawal rule.
Source
newspapers

Newspaper Articles (2)
1. June 2, 1932 Lansing State Journal Lansing, MI
Article from Lansing State Journal, June 2, 1932

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Article Text

President of Closed Institution at Sheridan Also Defendant in Action SEEK TO RECOVER $5,000 Plaintiffs Claim Money Was Withdrawn Improperly From Institution STANTON, Mich., June John Hudson, president of the closed Peoples State bank Sheritreasurer the Gleaners, made defendant with the Gleaners instituted in behalf the bank cover alleged have been withdrawn improperly from the institution suit, which filed in circuit here charged that the and other Gleaners was by Hudson although other limited small withdrawals the bank placed receivership. Another filed. naming Bower. Montcalm county treasdefendant. Bower alleged have taken $1,000 county funds violation of the drawal rule.

2. December 3, 1932 Lansing State Journal Lansing, MI
Article from Lansing State Journal, December 3, 1932

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Article Text

GLEANERS' OFFICIAL MUST RETURN FUNDS Dec. that John R. Hudson, treasurer the Ancient Order Gleaners and then president the People's State bank Eheridan exceeded rights withdrawing $5,000 of Gleaner funds from the bank during period of limited withdrawals, Judge Royal Hawhas ordered return of the money the bank's receiver. Judge in making the ruling. that "noteworthy that Anna was payment her deposit of September 26. the day the Gleaner posit was paid.'