8871. Farmers State Bank (Alto, MI)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
March 27, 1933
Location
Alto, Michigan (42.857, -85.380)

Metadata

Model
gpt-5-mini
Short Digest
e905dc7f

Response Measures

None

Description

Conservator was appointed in late March 1933 (state action placing 58 Michigan state banks under conservators). In December 1933 the state approved a reorganization plan for Farmers State Bank, Alto, indicating it reopened or was reorganized rather than permanently closed. No explicit contemporaneous run is described in the articles; the initial action was a government conservatorship.

Events (2)

1. March 27, 1933 Suspension
Cause
Government Action
Cause Details
State banking commissioner named conservators for 58 Michigan state banks, including Farmers State Bank of Alto; conservatorship (state intervention) placed the bank under control of a conservator (Earl Colby).
Newspaper Excerpt
Farmers State bank. Alto, Earl Colby.
Source
newspapers
2. December 8, 1933 Reopening
Newspaper Excerpt
STATE APPROVES BANK PLAN ... reorganizing of the Farmers State bank Alto. Kent county were approved the advisory banking ... reorganizing plan approved, fifty cent of deposits ... (OCR text).
Source
newspapers

Newspaper Articles (4)

Article from Battle Creek Moon-Journal, March 27, 1933

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Article Text

CONSERVATORS SELECTED Named For 58 State Banks In State Of Michigan. Lansing, March pointment of conservators for Michigan state banks was announcby Reichert, state banking commissioner, following today's session of the governor's advisory banking commission. In majority of cases the conservators are from the towns in which the banks which they will take over are locat- Affairs of two Flint banks were placed under the Mark Wilson, recently of Detroit, who has been identified with both state national bank activities for number of years and in whom Reichert said he has complete confidence. They are: Cheboygan State Savings Bank, Cheboygan, Fred Haut. Newberry State Bank, Newberry, John H. Paull. First State Savings Bank, Hillsdale, R. Owen. Sparta State Bank, Sparta, Carlson. People's State Savings Bank. Auburn, W. Gillman. State Savings Bank, Owosso, Kenneth Crawford. Traverse City State Bank, Traverse City, George B. Kilbourne. State Bank Whitehall, White. hall, George E. Covell. Farmers State Bank, Montague, Adolph Anderson. Hemlock State Bank, Hemlock, R. Beaver. Cedar Springs State Bank, Cedar Springs, Herbert Wheeler. Ludington State Bank, Zook. Riverdale State Savings Bank, Fred Leiter. Citizens Savings Bank, Owosso, Frank Freeman. Metamora State Savings Bank, Metamora, Fred Downer Pinconning State Bank, Pinning, Fotheringham. State Bank of Niles, Niles, Thomas Cain. Yale State Bank, Yale, Guy Beard. State Bank of Coswell, Coswell, Melvin H. Aitkin. Cass City State bank, Cass City, Auten. Bellaire State bank, Bellaire, W. H. Richards Citizens State Savings bank, New Baltimore, Pingel First State Savings bank, Bronson, Frank Coward. Clarkston State bank, Clarkston, George King. First State Bank of Mendon, Mendon, H. First Commercial Savings bank, H. Estes. Wolf Brothers State bank, Centerville, State Savings Bannister, C. Bates. State Savings Bank of Elsie. sie, First State Bank of Allegan, Allegan, Herman Vaupell. State Savings bank, Clinton, W. Van Tyle. American State bank, Frankenmuth, John Geyer. First State Savings bank, Holly, Lyons. State Savings bank, Stanton, Starks. Birch Run State bank, Birch Run. Herbert Walter. First State Bank of Kingsley, Kingsley, Carl Brown. Pinney State bank, Cass City, Pinney. State Bank of Harbor Beach, Harbor Beach. John Prieskorn. Marysville Savings bank. Marysville. John Barron. Farmers Savings bank, White Pigeon. M. Benjamin. Springport State Savings bank, Springport, Allen Crawford, Peninsula bank, Ishpeming, PetGenesee County Savings bank, Mark Wilson Union Industrial Trust and Savings bank. Flint. Mark Wilson. First State bank, South Haven, Van Farmers and Merchants State bank, Lakeview, Griffith. Big Rapids Savings bank, Big Rapids. William Taggart. Rockford State bank, Rockford, Muir. Byron Center State bank, Byron Frank Farmers State bank, Alto, Earl Colby. Peoples State bank, Milan, Laskey Farmers State bank. Breckenridge, Baldwin. Woodland State bank, Woodland. Hilbert. Eaton County Savings bank, Charlotte, Phil H. Barber.


Article from Marshall Evening Chronicle, March 27, 1933

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Article Text

Banks Under Conservators In 58 Towns (Concluded from Page 1) First State SAVINGS bank. Bronson, Frank Coward Clarkston State bank Clarkston. D. King George First State Bank of Mendon, C. H. Rogge Mendon. First Commercial Savings bank Wolf Brothers State bank. Centerville, C. D. Mosher State Savings bank. Bannister. C. D. Bates. State Savings Bank of Elsic. First State Bank of Allegan. Allegan. Herman Vaupell State Savines bank. Clinton. W. P. Van Tyle. American State bank. Frankenmuth. John L Gever First State Savings bank. Holly. B. State Savinas bank. Stanton D. Birch Starks Run State bank. Birch Run. Herbert Walter. First State Bank of Kingsley. Kingsley. Carl J Brown Pinney State bank. Cass City. F State Punney Bank of Harbor Beach. Harbor Beach John C. Prieskorn. Marysville Savings bank. Marysville. John C. Barron Farmers Savings bank. White Pigeon. J. M Benjamin. Springport State Savings bank. Springpert. Allen Crawford Jr Peninsula Bank. Ishpeming. PetGenesee County Savings bank, Flint. Mark Wilson Union Industrial Trust & Savings bank Flint. Mark Wilson First State bank, South Haven. R. B. Van Haaften Farmers & Merchants State bank. Lakeview D S. Griffith. Big Rapids Savings bank. Big Rapids. Wm. C. Taggart Rockford State bank. Rockford. E J. Muir Byron Center State bank. Byron Center. Frank Wierenga. Farmers State bank. Alto. Earl V. Colby. Peoples State bank Milan. J. Laskey. Farmers State bank. Breckenridge. R. L. Baldwin. Woodland State bank. Woodland. J. V. Hilbert Eaton County Savings bank Charlotte Phil H. Barber Hillsdale Savings bank. Hillsdale C F. Cook. Jr. Guardian Bank cf Trenton. Trenton. C. A. Smith Cadillac State bank. Cadillac J. J. Beldman Peoples Bank Sparts. Leslie Anderson


Article from The Grand Rapids Press, March 28, 1933

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Article Text

NAMES CONSERVATORS FOR 58 BANKS Lansing, March of conservators for 58 Michigan state banks was announced by R. E. Reichert, state banking commissioner, following Monday's session of the governor's advisory banking commission. In majority of cases the conservators are from the towns in which the banks which they will take over are located. Affairs of two Flint banks were placed under the conservatorship of Mark Wilson, recently of Detroit. who has been identified with both state and national bank activities for number of years and in whom Reichert said he has complete confidence. The 58 banks affected are: SPARTA State bank, A. B. Carlson. Peoples bank, SPARTA, Leslie Anderson. ROCKFORD State bank, E. Muir. BYRON CENTER State bank, Frank Wierenga. CEDAR SPRINGS State bank, Herbert W. Wheeler. Farmers State bank, ALTO, Earl D. Colby. TRAVERSE CITY State bank, George B. Kilbourne. State Bank of WHITEHALL, George E. Covell. Farmers State bank, Adolph Anderson. LUDINGTON State bank, O. C. Zook. BELLAIRE State bank, W. H. Richards. First State bank, MENDON, C. H. Rogge. First Commercial Savings bank, CONSTANTINE. H. L. Estes. Wolf Brothers State bank, CENTERVILLE, C. B. Mosher. First State Bank of ALLEGAN, Herman Baupell. State Savings bank, STANTON. Sharp. First State Bank of KINGSLEY, Carl J. Brown. First State bank, SOUTH HAVEN. R. B. VanHaaften. Farmers and Merchants State bank, LAKEVIEW, D. S. BIG RAPIDS Savings bank, illiam Taggart. WOODLAND State bank. Hilbert. Eaton County Savings bank, CHARLOTTE, Phil H. Barber. CADILLAC State bank. J. Veldman. CHEBOYGAN State Savings bank. Fred Haut. State Bank, John H. Paul. First State State Savings Gillman State Kenneth Crawford. R. State Fred Leiter Frank Freeman Downer. State bank. Bank of Cain. State State Bank Melvin H. Aitkin. CASS CITY W. First State bank, BRONSON Frank Coward. George D. King State Savings bank. State Savings Bank of ELSIE. State John L. First HOLLY Lyons. BIRCH State bank, Herbert Pinney State Bank HARBOR BEACH. John Prieskorn. Savings jr. Peninsula bank. ISHPEMING, Peter Handberg County FLINT. Mark Union Industrial Trust Mark Wilson. Peoples R. L. Guardian Bank of TRENTON. Smith


Article from The Grand Rapids Press, December 8, 1933

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Article Text

STATE APPROVES BANK PLAN Dec. for reorganizing of the Farmers State bank Alto. Kent county were approved the advisory banking Fifty cent of deposits