Stephens State Bank - East Detroit, MI

Episode Information

Episode UID: 74110771707
Episode Type: Suspension → Closure
Bank Type: state
Bank ID: 7411077 routing
Routing Number: 74-1107
Start Date: March 26, 1942
Location: East Detroit, Michigan

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: abb8b53ab0b55abc

Response Measures

None

Description

Article reports receivership payments; no run or reopening mentioned.

Events (2)

1. March 26, 1942 Receivership

Newspaper Excerpt: An additional payment of 10 per cent on deposits in the closed Stephens State Bank was authorized Monday by Circuit Judge Neil E Reid.
Source: newspapers

2. * Suspension

Cause: Government Action
Cause Details: Bank closed and placed in receivership by court order (receiver administering payments)
Newspaper Excerpt: Closed Stephens State Bank
Source: newspapers

Newspaper Articles (1)

1. March 26, 1942 The Daily Monitor Mount Clemens, MI

Article from The Daily Monitor, March 26, 1942

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Article Text

Closed Bank Makes New Pay-off EAST DETROIT. - An additional payment of 10 per cent on deposits in the closed Stephens State Bank was authorized Monday by Circuit Judge Neil E Reid. The order permits the receiver to distribute checks of 10 per cent of the total to claimants against the bank. The offices of the receivership are located on the second floor of the Kaiser building, Nine Mile and Gratiot Receiver Melvin Van Howe said that claimants will be required to present their receiver's certificates for payment.