8876. Armada State Bank (Armada, MI)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
March 29, 1933
Location
Armada, Michigan (42.844, -82.884)

Metadata

Model
gpt-5-mini
Short Digest
cb122eee

Response Measures

None

Description

Armada State Bank was closed/placed in hands of conservators in late March 1933 (state action). Advisory committee approved reorganization plans by Sept 1, 1933, and the bank reopened in mid-December 1933 to pay 50% of deposits under conservatorship. No article describes a depositor run prior to suspension — the action was government/state-directed conservatorship.

Events (3)
1. March 29, 1933 Suspension
Cause
Government Action
Cause Details
State banking commission placed the bank in hands of conservators; conservator appointed and bank closed/under conservatorship during bank holiday.
Newspaper Excerpt
Armada State bank, Armada. James Neeley. ... Appointment of the following ... conservators was announced by the commission
Source
newspapers
2. September 1, 1933 Other
Newspaper Excerpt
organization plans for the the Armada State bank ... were approved Friday by advisory banking committee.
Source
newspapers
3. December 18, 1933 Reopening
Newspaper Excerpt
Armada State Bank Opens Monday, To Pay Off 50 Per Cent ... The Armada State bank, closed since March will be reopened Monday with the bank paying 50 per cent of the deposits under the facilities for loan to the bank ... The bank In charge of conservator since the bank holiday.
Source
newspapers

Newspaper Articles (5)
1. March 29, 1933 Battle Creek Moon-Journal Battle Creek, MI
Article from Battle Creek Moon-Journal, March 29, 1933

Click image to open full size in new tab

Article Text

CONSERVATORS ARE APPOINTED (Continued from Page One.) State Bank of Linwood, Linwood, Joseph A. Ouillette Lincoln State bank, Lincoln, W. G. Anderson. Rockwood State bank. RockWagar. and Merchants State bank, Wheeler. Henry Mead. Armada State bank, Armada. James Neeley. State bank, Brighton, Savings bank. MoAddison State Savings bank AdB. Zeeland State bank. Zeeland. Den Herder. State Bank of Vestaburg. Vesta burg. Andrew W. Orr Blanchard State bank, BlanchAndrew Orr. State Bank of Six Lakes. Six Lakes. Andrew Orr. Newport State bank, Newport. Thomas Rabbitt Farmers Merchants State bank. Mesick, Lewis M. Hilton First State bank. Ashley, Garland State bank, Van Dyke, Eugene Carey Saranac State bank. Saranac Charles Huhn. First State Bank of Swift First State bank, Maple Rapids, H. Annis Moline State bank, Moline. Joe Haveman. First State bank, White H. Gustin. Algonac Savings bank, Algonac, W. Folsom. American Home Security, Grand Rapids, Howard Lawrence. Appointment of the following torneys to represent conservators was announced by the commission: Flint Union Industrial bank, Guy Wilson. Genesee County Savings Neithercut and Neithercut. Detroit Trust company, Anderson, Wilcox, Lacey and Lawson.

2. March 29, 1933 The Times Herald Port Huron, MI
Article from The Times Herald, March 29, 1933

Click image to open full size in new tab

Article Text

Conservators For Banks Selected March Thirty state placed hands of by Comstock and Rudolph E. Reichert today They Farmers Merchants State. Martin Port Austin State, Harold Finan. Armada State, E. Neely. Algonac William E. General Guy M. Wilson was appointed the Flint Union Industrial bank; Nethercutt Nethercutt appointed attorneys for the Savings bank and Anderson. apfor the Detroit Trust about 50 state financial remain be disposed of. been appointed for 152. Beggars Ousted Two today police. were to limits ordered to "keep From Cleveland factory to you. or Top Coats

3. September 1, 1933 The Grand Rapids Press Grand Rapids, MI
Article from The Grand Rapids Press, September 1, 1933

Click image to open full size in new tab

Article Text

REMUS BANK REOPENING PLAN IS GIVEN APPROVAL Lansing, Sept. zation plans for the the Armada State bank and the State Savings bank at Remus were approved Friday by advisory banking committee. Dance 949 Div. Swartz orchestra, Adm. 15c. Check free,

4. September 1, 1933 Marshall Evening Chronicle Marshall, MI
Article from Marshall Evening Chronicle, September 1, 1933

Click image to open full size in new tab

Article Text

gave at her street when bridge she Miss Norma per of gold and rooms and hostess and were Dorothy Annis for Stout Barbara per Kathnieen Miller and Herge The evenings diversion bridge high score being by Miss Berge She was presented with :: gift as was the honor guest Miss Barnard enters Leila hospital Monday to take nurse's training course Entertained at Bridgelb. Mrs Samuel Swartwont tained a group of vonne people last evening at her home in north Madison street Summer flower: tastefully arranged adorned the 1/2-1b. pkg. rooms Bridge was the diversion three tables being in play Hign Small lb. 22c scores were won by Miss Marie Mitchell and Craig Brooks each being presented with a suitable gift. At the conclusion of the game 8c dainty refreshments were served lb. Besides those mentioned present were Mrs. Richard Brede of De. troit Mr. and Mrs. Charles Lowell 7c of Battle Creek. Miss Isabede lb. Minne Miss Jessie Lee Holmes. lb 12c Miss Rose Butler. Miss Iva Ben son. Dr N M. Schindler and Robert Thick Steak RoastThe following group of people comprised party which motored 3 lbs. 25c to the Hillabrant cottage at Lyon lake last evening for a steak roast lb. 25c Mr. and Mrs Robert Hill of Madison. Wis. Mrs C A. Miller of Saginaw. also Mr and Mrs. Arol Choice Hill, Mr and Mrs Arthur Arndts. 12c Mr. and Mrs George Kelser, Mr lb. and Mrs. Thomas Johnston. Mr and Mrs. Brewer Goodwin. Miss lb. 25c Veopal Muck. Miss Marie Hiliabrant. Myron Grant and Ross Church Supper PartyIn honor of Miss Mary Louise Joy. of Glendale California, who is a guest in the city. Miss Barbara Casper will entertain at a supper party at the Casper cottage at Lyon lake this evening Besides the hostess and honor guest. present will be Miss Rosemary Osborne. Miss Gwendolyn Eymer Miss Isabelle Minne Craig Brooks Charles Perrett. Thomas Brooks. Stephen Bentley and Jumes Osborne. Fortnightly ClubMrs L. C. Sherman was hostess for the meeting of the Fortnightly club at her home in east Mansion street last evening Substituti 12 for absent members were Mrs. F E. Minne Mrs. Ralph Helm and Mrs. B. M Allen A 6:30 o'clock supper was served after which contract was the diversion High score was won by Mrs. Minne, who was presented with a suitable gift Miss Pearl Page invited the club to meet with her in two weeks. Birthday PartyMr. and Mrs R. S. Brubaker gave 11 lovely party yesterday at their rural home honoring their daughter. Madge the occasion heing her fifteenth birthday anniversary There were twenty-four guests and they made the evening Puss merfily with games and masic. Fall flowers were used for decorations and delectable birthday luncheon was served. Miss Erubaker received many unce gifts. Bridge LuncheonPlans for Reopening Mrs. Hazen J. Hatch entertained Two State Banks Approved at a bridge luncheon yesterday at the Atheistan club in Battle Creek ganization plans for the reopening for her mother Mrs L H van den of the Armada State bank. Arma Berg of New Paltz, N. Y The da, and the State Savings bank at table was prettily adorned garden Remus were approved today by Howers being used Covers laid for twelve At bridge high the governor's advisory banking :cores were won by Mrs. van den committee.

5. December 14, 1933 The Times Herald Port Huron, MI
Article from The Times Herald, December 14, 1933

Click image to open full size in new tab

Article Text

Armada State Bank Opens Monday, To Pay Off 50 Per Cent Armada. Dec. The Armada State bank, closed since March will be reopened Monday with the bank paying 50 per cent of the deposits under the the feditles for loan to the bank The of the deposits will be paid over a period of five Stockholders have elected the directors: dents, Hullett and W E. Rogers and E. Neely The bank In charge of conservator since the bank hollday. Receiver For Farmers Bank Pontiac, has been appointed receiver of the Farmers' State bank here. He manager of the Oakland branch of the Pontiac Commercial bank in Pontiac.