Farmers State Bank - Armada, MI

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: March 1, 1933*
Location: Armada, Michigan (42.844, -82.884)

Metadata

Model: gpt-5-mini
Short Digest: 2e4cb2aa

Response Measures

None

Description

Article (Dec 14, 1933) reports the Farmers' State Bank of Armada had been closed since March, was under a conservator/receiver, and will reopen to pay 50% of deposits. A receiver was appointed (Pontiac receiver). No run is mentioned.

Events (3)

1. March 1, 1933* Suspension

Cause: Government Action
Cause Details: Bank closed since March and placed under a conservator; later a receiver was appointed
Newspaper Excerpt: The Armada State bank, closed since March will be reopened Monday
Source: newspapers

2. December 14, 1933 Receivership

Newspaper Excerpt: 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.
Source: newspapers

3. December 18, 1933 Reopening

Newspaper Excerpt: 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
Source: newspapers

Newspaper Articles (1)

1. December 14, 1933 The Times Herald Port Huron, MI

Article from The Times Herald, December 14, 1933

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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.