8865. Allegan State Savings Bank (Allegan, MI)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
savings bank
Start Date
October 7, 1932
Location
Allegan, Michigan (42.529, -85.855)

Metadata

Model
gpt-5-mini
Short Digest
7da6db59

Response Measures

None

Description

Articles show the bank received an RFC loan in Oct 1932 and was closed during the Michigan banking holiday (spring 1933) and is slated to reopen in July 1933. No article describes a depositor run; closure resulted from the statewide banking holiday/government action and the bank is scheduled to resume operations.

Events (3)

1. October 7, 1932 Other
Newspaper Excerpt
Among the bank loans made public were: Allegan state Savings bank, $50,000.
Source
newspapers
2. March 1, 1933* Suspension
Cause
Government Action
Cause Details
Closed under the proclamation of the Michigan banking holiday (state/federal action).
Newspaper Excerpt
having been closed the proclamation of the Michigan banking holiday.
Source
newspapers
3. July 1, 1933* Reopening
Newspaper Excerpt
ALLEGAN STATE SAVINGS BANK TO REOPEN JULY ... Allegan State Savings bank will reopen July ... officials announced after having been closed the proclamation of the Michigan banking holiday.
Source
newspapers

Newspaper Articles (2)

Article from The Herald-Palladium, October 7, 1932

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Article Text

AUGUST TOTAL corporation authorized during August aggregating The report of the corporation was made public today South Trimble, the House the protest Atlee Pomerene, chairman the Reconstruction board. The August report also showed inprevious aggregating making the ment for the month cision to make the report public tained opinion counsel, South Trimble, which that "after careful the legislative history the relief construction the protest brief of the corporation, the opinion that act no discretion withhold monthly reports the Reconstruction Finance corporation from public inspection." Banks trust companies received the total tion for August. This included to aid the reorganization or liquidation closed banks. Among the bank loans made public were: Allegan state Savings bank, $50,000. Benton Harbor, Berrien County (receiver) $52,000. Benton Harbor, Berrien County Dowagiac, Dowagiac National bank, $48,500. Dowagiac, Lee State bank, Hartford, National bank,


Article from The Herald-Palladium, May 30, 1933

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Article Text

ALLEGAN STATE SAVINGS BANK TO REOPEN JULY Associated Press) ALLEGAN, May Allegan State Savings bank will reopen July officials announced after having been closed the proclamation of the Michigan banking holiday. Under plan, approved state and federal banking authori100 made and of all deposits will be impercent pounded. The percent of deposits, officials said, will the opening day and the equal over period of years. The be released when conditions warrant.