8075. First State Bank (Hartford, MI)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 1, 1931*
Location
Hartford, Michigan (42.207, -86.167)

Metadata

Model
gpt-5-mini
Short Digest
744756814855d404

Response Measures

None

Description

Articles report First State Bank of Hartford closed in June 1931 and was in receivership under Frank C. Stapleton by 1933, with dividends being paid to depositors. There is no mention of a depositor run prior to suspension or of the bank reopening; the bank remained under receiver control and was liquidating assets and paying dividends. OCR errors in Article 2 conflated Olney National Bank details; that appears to be a different institution referenced in the same piece. Dates corrected/standardized where only month/year given (June 1931).

Events (3)
1. June 1, 1931* Suspension
Cause Details
Article states the bank 'closed in June, 1931' but gives no specific cause (no run or governmental action described).
Newspaper Excerpt
the bank closed in June, 1931.
Source
newspapers
2. August 23, 1933 Receivership
Newspaper Excerpt
Frank C. Stapleton, receiver, has announced ... since the bank closed in June, 1931. ... Stapleton is well known here He was appointed receiver of the First State Bank Hartford when it closed in June, and has paid dividends equalling 65 cent of the deposits, the last 10 cent having been last He has assets of the First State sufficient to pay another dividend, and persufficient to pay depositors in full.
Source
newspapers
3. September 28, 1933 Other
Newspaper Excerpt
HARTFORD BANK RECEIVER NAMED ... He was appointed receiver of the First State Bank Hartford when it closed in June, and has paid dividends equalling 65 cent of the deposits ... is believed that efforts will be re-organize and re-open the Olney National Bank, the only bank in the village.
Source
newspapers

Newspaper Articles (2)
1. August 23, 1933 The Grand Rapids Press Grand Rapids, MI
Article from The Grand Rapids Press, August 23, 1933

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Article Text

HARTFORD DEPOSITORS GET FURTHER PAYMENT Hartford, Aug. 23.-Within the next two depositors of First State Bank of Hartford will be paid dividend of 10 per cent, Frank C. Stapleton. receiver, has announced The forthcoming pay. ment will make a total of 65 per cent returned to the depositors since the bank closed in June, 1931. Part of the funds for the payment of the dividend were obtained by the sale of the bank building vault and part of the equipment to Stephen A. Doyle of Hartford. Doyle was the first cashier of the First State bank but tired some time before the bank closed.

2. September 28, 1933 The Kalamazoo Gazette Kalamazoo, MI
Article from The Kalamazoo Gazette, September 28, 1933

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Article Text

HARTFORD BANK RECEIVER NAMED Frank Stapleton, Decatur, Appointed: Reopening Planned, Belief. HARTFORD received from J. F. O'Connor. comptroller of the treasury at Washington, announces cancellation of the commission of James Ingalls the Olney National Bank of Hartford. appointment of Frank C. Stapleton, Decatur, as recevier. Ingalls, cashier of the bank since its founding in 19 was appointed conservator during the banking holiday February and has since been in charge. E. R. Smith, local lumberman, is the president of the Stapleton is well known here He was appointed receiver of the First State Bank Hartford when it closed in June, and has paid dividends equalling 65 cent of the deposits, the last 10 cent having been last He has assets of the First State sufficient to pay another dividend, and persufficient to pay depositors in full. is believed that efforts will be re-organize and re-open the Olney National Bank, the only bank in the village. was founded by the late Horace M. Olney. man here who gave Ely park to Hartford.