8308. Newaygo County Bank (White Cloud, MI)

Bank Information

Episode Type
Suspension → Closure
Bank Type
private
Start Date
April 1, 1926*
Location
White Cloud, Michigan (43.550, -85.772)

Metadata

Model
gpt-5-mini
Short Digest
43220ae31b7e8064

Response Measures

None

Description

Articles report Newaygo County Bank (White Cloud, MI) closed/failure in April 1926 and a receiver was appointed; later (Apr 1927) a dividend paid to creditors. Cause cited is delayed loan payments (bank-specific asset problem). OCR in Article 1 is poor and dates are slightly inconsistent: Article 1 (Apr 15, 1926 paper) mentions a receiver being named, while Article 2 explicitly states the bank failed April 26, 1926 and a receiver later obtained authority to pay dividends. I do not infer any run; the evidence supports a suspension/closure with receivership.

Events (3)
1. April 1, 1926* Receivership
Newspaper Excerpt
Bank Receiver Named WHITE CLOUD. Mich., April ... receiver appointed ... private institution ... Delayed payments on loans are said to have caused ... B. Sicles is president.
Source
newspapers
2. April 26, 1926 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Delayed payments on loans weakened the bank’s assets and led to failure.
Newspaper Excerpt
the Newaygo County bank White Cloud failed April 26, 1926
Source
newspapers
3. April 8, 1927 Other
Newspaper Excerpt
granting the petition of the bank receiver ... to pay a 20 per cent dividend on liabilities ... Depositors whose claim were below $50 ... are rejoicing because of an order ... to pay a 20 per cent dividend on liabilities amounting to $44,000
Source
newspapers

Newspaper Articles (2)
1. April 15, 1926 Lansing State Journal Lansing, MI
Article from Lansing State Journal, April 15, 1926

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Article Text

Bank Receiver Named WHITE CLOUD. Mich., April of the Newaygo county bank, private institution, which recently closed its doors, have to have receiver appointed by the old state bank of Freemont. Delayed payments on loans are said to have caused the B. Sicles is president.

2. April 8, 1927 Battle Creek Moon-Journal Battle Creek, MI
Article from Battle Creek Moon-Journal, April 8, 1927

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Article Text

DEFUNCT BANK AT BIG RAPIDS PAYS CLAIMS ficials of the township the Whit Cloud board of education, the Od Fellow lodge and numerous sma creditors who lost their deposi: when the Newaygo County bank White Cloud failed April 26, 1926 are rejoicing because of an orde by Judge Joseph Barton of BI Rapids, granting the petition of the bank receiver. the Old State ban of Fremont, to pay a 20 per cen dividend on liabilities. amounting to $44,000 Depositors whose claim were below $50 each have bee with prospects that claims not et ceeding $100 also will be cared It is expected another dividend will be declared in CO days. The waygo County bank failed about $47,000