Belding Savings Bank - Belding, MI

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: October 29, 1934
Location: Belding, Michigan (43.098, -85.229)

Metadata

Model: gpt-5-mini
Short Digest: bba8db8a

Response Measures

None

Description

Article (Grand Rapids Press, 1934-10-29) refers to the closed Belding Savings bank and discusses distributions to former depositors and actions by the state bank commissioner. No run is mentioned; the bank is already closed and assets frozen, implying a suspension followed by closure and receivership/administration by the commissioner.

Events (2)

1. October 29, 1934 Receivership

Newspaper Excerpt: Ionia. ... had been tentatively approved in circuit court Monday for former depositors closed Belding Savings bank. ... proposal formally approved the state bank [commissioner]. Payments to former depositors closed Belding Savings bank ... assets frozen when the institution ... the state bank commissioner ... distribution of funds to former depositors was being arranged. (OCR text corrected for clarity.)
Source: newspapers

2. * Suspension

Cause: Government Action
Cause Details: Bank was closed and assets frozen; state bank commissioner is administering distributions to former depositors.
Newspaper Excerpt: former depositors closed Belding Savings bank. Payments will be soon the proposal formally approved the state bank commissioner.
Source: newspapers

Newspaper Articles (1)

1. October 29, 1934 The Grand Rapids Press Grand Rapids, MI

Article from The Grand Rapids Press, October 29, 1934

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Article Text

BELDING BANK DISTRIBUTE FUNDS Five Per Cent Dividend Plan Awaits 0. K. of Commissioner. Ionia. Oct. dividend 805 had been tentatively approved in circuit court Monday for former depositors closed Belding Savings bank. Payments will besoon the proposal formally approved the state bankWilson, in petitioning for the he be also that he expects the will able pay off assets frozen when the instipayments have reached In the condition of the closed bank stated that present hand excluof cash and book value Present tal This value assets liabilities of Wilson declared sum of had been realized the 100 levy and the were collateral stated stock levies should be collected by suit or otherwise.