8300. Michigan Savings Bank (Vassar, MI)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
March 8, 1932
Location
Vassar, Michigan (43.372, -83.583)

Metadata

Model
gpt-5-mini
Short Digest
8f9e7cbf4cbb513d

Response Measures

None

Description

Articles report the Michigan Savings Bank at Vassar closed for reorganization in early March 1932 and a receiver (Lewis Walton) was appointed by the state banking department in July 1932. No mention of a depositor run; closure appears regulatory/administrative leading to receivership. OCR errors in Article 1 corrected (e.g., closed reorganization Tuesday of last week interpreted as bank closed for reorganization). Dates: suspension inferred from Mar 11, 1932 article referencing a recent Tuesday; receiver appointment is July 2, 1932 per the July 3, 1932 newspaper.

Events (2)
1. March 8, 1932 Suspension
Cause
Government Action
Cause Details
Bank closed for reorganization; closure appears to involve state banking authorities (reorganization proceedings).
Newspaper Excerpt
The Michigan Savings Bank Vassar closed reorganization Tuesday of last week.
Source
newspapers
2. July 2, 1932 Receivership
Newspaper Excerpt
FERNDALE MAN NAMED VASSAR BANK RECEIVER ... appointed receiver for the Michigan Savings Bank this morning ... hearing on the petition ... testified the hearing on the petition that appointed for the bank, which was closed sometime The harp played minor role in Greek the lyre and cithara being much important.
Source
newspapers

Newspaper Articles (2)
1. March 11, 1932 The Progress-Advance Pigeon, MI
Article from The Progress-Advance, March 11, 1932

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Article Text

Neighboring News The Michigan Savings Bank Vassar closed reorganization Tuesday of last week. Farmers Snover, Sandusky and Peck Sugar of Caro for than acres beets. Malcom Crawford, Caro Schools was board directors the annual meeting held in Brookfield townfarmer, serving 25-day tence the county jail because refused pay his tax. appeared before Justice Lewis Hill pleaded guilty the charge, the pay spend days in chose has been named chairman of the Chamber Commerce. Other Arthur Maust: retary, Palmer; Treasurer, Denner. Elkton High School placed the accredited year period ending June 30, 1934.

2. July 3, 1932 The Flint Journal Flint, MI
Article from The Flint Journal, July 3, 1932

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Article Text

FERNDALE MAN NAMED VASSAR BANK RECEIVER Vassar, July 2.-Lewis Walton of Ferndale formerly of appointed receiver for the Michigan Savings Bank this morning hearing in circuit court before Judge Henry H. Smith. Mr. Walton was by Edward Nelson of the state banking department testified the hearing on the petition that appointed for the bank, which was closed sometime The harp played minor role in Greek the lyre and cithara being much important.