Belding Savings Bank - Belding, MI

Bank Information

Episode Type: Run → Suspension → Unsure
Bank Type: savings bank
Start Date: June 1, 1931*
Location: Belding, Michigan (43.098, -85.229)

Metadata

Model: gpt-5-mini
Short Digest: a5b367a8

Response Measures

Capital injected, Full suspension

Other: Depositors being asked to take shares equal to 40% of deposits as part of reorganization plan; plan approved by state banking commissioner and attorney.

Description

Article (1931-07-29) states a sudden run about a month earlier forced the institution to close to protect depositors. At time of article the bank remains closed and depositors are being asked to take shares to avoid receivership; outcome (reopening vs permanent closure) is not specified, so classified as unsure. No specific misinformation or bank-specific scandal is described as the trigger.

Events (2)

1. June 1, 1931* Run

Cause Details: Article only describes a sudden run about a month earlier; no specific trigger (rumor, correspondent failure, or bank-specific scandal) is provided.
Measures: Reorganization plan asking depositors to take shares equal to 40% and agree to limited withdrawals over time; plan approved by state banking commissioner.
Newspaper Excerpt: A sudden run on the bank ... forced the institution to close month ago to protect its depositors
Source: newspapers

2. June 1, 1931* Suspension

Cause Details: Closure (suspension) resulted from large withdrawals during the sudden run; article does not indicate government-ordered closure or voluntary liquidation.
Newspaper Excerpt: Depositors in the closed Belding Savings bank are being asked to take an Interest in the bank to save from receivership ... A sudden run on the bank ... forced the institution to close month ago to protect its depositors
Source: newspapers

Newspaper Articles (1)

1. July 29, 1931 Battle Creek Moon-Journal Battle Creek, MI

Article from Battle Creek Moon-Journal, July 29, 1931

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Article Text

DEPOSITORS IN CLOSED BANK ARE REORGANIZING positors of the closed Belding Savings bank are being asked to take an Interest in the bank to save from receivership Under the plan, used for the first time in Michigan the de positors will he asked to take shares in the bank equal to 40 per also be requested to agree to withdraw only certain percentages of their deposits within limited periods time The plan has the approval of the state banking commissioner and the attorney officials of the bank said A sudden run on the bank. be forced the institution to close month ago to protect its depositors