Article Text
Petoskey Bank Closes First failed to its doors door of the tion said was closed conserve the assets the bank for the protec-
8216. First National Bank (Petoskey, MI)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 5607
- Charter Number
- 5607
- Start Date
- October 17, 1931
- Location
- Petoskey, Michigan (45.373, -84.955)
Metadata
- Model
- gpt-5-mini
- Short Digest
f63e345fd6d3649a
Response Measures
None
Description
OCR of article is fragmentary (Lansing State Journal, 1931-10-17) but clearly reports the Petoskey First Bank closes and that it was closed to conserve the assets...for the protection of the bank. No mention of a depositor run in the excerpt; the bank appears to have suspended and remained closed (closure). Cause inferred as voluntary closure to conserve assets; wording is ambiguous whether this was by bank management or state action, so I classify as voluntary_liquidation-style suspension leading to closure. If fuller text indicates a government receiver, cause would be government_action instead.
Events (2)
1.
October 24, 1900
Chartered
- Source
- historical_nic
2.
October 17, 1931
Suspension
- Cause
- Voluntary Liquidation
- Cause Details
- Bank closed its doors to conserve assets and for the protection of depositors/creditors; reported as a closure rather than a depositor run.
- Newspaper Excerpt
- Petoskey Bank Closes ... said was closed conserve the assets the bank for the protec-
- Source
- newspapers
Newspaper Articles (1)
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