Albion State Bank - Albion, MI

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 30, 1940
Location: Albion, Michigan (42.243, -84.753)

Metadata

Model: gpt-5-mini
Short Digest: ce1d4ed8

Response Measures

None

Description

Article (Oct 30, 1940) states the Albion State Bank is defunct and a receiver (W. R. Noyes) is making distributions to depositors. No run is described in the provided text; the bank is in receivership and closed permanently.

Events (2)

1. October 30, 1940 Other

Newspaper Excerpt: A $19,000 release to 2,300 depositors ... The five per cent payment brings to 60 per cent the amount released since the bank closed.
Source: newspapers

2. October 30, 1940 Receivership

Newspaper Excerpt: A $19,000 release to 2,300 depositors in the defunct Albion State Bank has been announced by W. R. Noyes, receiver. The five per cent payment brings to 60 per cent the amount released since the bank closed.
Source: newspapers

Newspaper Articles (1)

1. October 30, 1940 The Ypsilanti Daily Press Ypsilanti, MI

Article from The Ypsilanti Daily Press, October 30, 1940

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Article Text

BANK PAYS OFF Albion. Oct. 30 -A $19,000 release to 2,300 depositors in the defunct Albion State Bank has been announced by W. R. Noyes, receiver. The five per cent payment brings to 60 per cent the amount released since the bank closed.