Michigan State Bank - East Lansing, MI

Episode Information

Episode UID: 74114871583
Episode Type: Suspension → Closure
Bank Type: state
Bank ID: 7411487 routing
Routing Number: 74-1148
Start Date: November 6, 1931
Location: East Lansing, Michigan (42.737, -84.484)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 0ae6d45460f54225

Response Measures

None

Description

Receiver appointed and final payoff described in 1941; bank closed in 1931 and remained in receivership.

Events (3)

1. November 6, 1931 Receivership

Newspaper Excerpt: Clayton F. Jennings, receiver ... Jennings was named receiver by Rudolph Eichert, former state banking commissioner.
Source: newspapers

2. November 6, 1931 Suspension

Cause: Government Action
Cause Details: Bank closed and a receiver was appointed following failure; receiver named by state banking commissioner.
Newspaper Excerpt: bank closed Nov. 6, 1931
Source: newspapers

3. December 5, 1941 Other

Newspaper Excerpt: Circuit Judge Leland W. Carr signed an order today paving the way for a final 10 per cent payoff to depositors of the old Michigan State Bank in East Lansing.
Source: newspapers

Newspaper Articles (1)

1. December 5, 1941 Detroit Evening Times Detroit, MI

Article from Detroit Evening Times, December 5, 1941

Click image to open full size in new tab

Article Text

E. Lansing Bank Payoff O.K'd Times Staff Correspondent LANSING, Dec. 5. - Circuit Judge Leland W. Carr signed an order today paving the way for a final 10 per cent payoff to depositors of the old Michigan State Bank in East Lansing. Clayton F. Jennings, receiver, said the payoff would bring to 80 per cent in deposits paid out since the bank closed Nov. 6, 1931, and would constitute the final payment. Jennings was named receiver by Rudolph Eichert, former state banking commissioner. Jennings stated in his petition to Judge Carr that he has exchanged assets in amount of $44,354.46 in settlement of claims and that unpaid claims against the bank total $22,040.46. Joseph W. Gleason, receiver for the defunct City National Bank, also preparing to wind up his receivership. The bank has paid out approximately 90 per cent.