Garden City State Bank - Garden City, MI

Episode Information

Episode UID: 74116371613
Episode Type: Suspension → Closure
Bank Type: state
Bank ID: 7411637 routing
Routing Number: 74-1163
Start Date: May 1, 1934*
Location: Garden City, Michigan (42.326, -83.331)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 99b8e45566dfef90

Response Measures

None

Description

Article states the bank closed in May 1934 and a receiver is handling payouts.

Events (2)

1. May 1, 1934* Receivership

Newspaper Excerpt: Clare A. English, receiver for the bank which closed in May, 1934. Payment of a second dividend to depositors ... will complete a 100 per cent payoff.
Source: newspapers

2. May 1, 1934* Suspension

Cause: Government Action
Cause Details: Bank closed and placed under a receiver (receiver later paying dividends)
Newspaper Excerpt: the bank which closed in May, 1934
Source: newspapers

Newspaper Articles (1)

1. December 20, 1935 Detroit Free Press Detroit, MI

Article Text

Bank to Complete Depositor Payoff Settlement Is 100 Pct. in Garden City Payment of a second dividend to depositors of The Garden City State Bank will begin Saturday and will complete a 100 per cent payoff, according to an announcement Thursday by Clare A. English, receiver for the bank which closed in May, 1934. The dividend totals approximately $17,000, paying 20 per cent on saving accounts, and 60 per cent on general accounts, according to English. The total amount paid in this and an earlier dividend is approximately $49,000. Payments will be made at the office of The Dearborn State Corp. located at 22000 Michigan Ave., Dearborn.