Farmers & Merchants State Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 10, 1932
Location: Carson City, Michigan (43.177, -84.846)

Metadata

Model: gpt-5-mini
Short Digest: 658d9f5c

Response Measures

None

Description

Article (Mar 10, 1932) refers to the bank as a closed institution with a receiver who recovered assets. It describes withdrawals made prior to closing (inside information) and mentions the receiver increased assets by restitution. No explicit contemporaneous run is described; the bank is in receivership, so classified as suspension_closure (suspension leading to permanent closure/receivership).

Events (2)

1. March 10, 1932 Receivership

Newspaper Excerpt: The receiver of the Farmers & Merchants bank in Carson City ... had succeeded in increasing the bank's assets by $6,012 through restitution.
Source: newspapers

2. March 10, 1932 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Withdrawals through inside information that banks were insolvent; insiders withdrew funds prior to closing, indicating bank-specific insolvency/irregularity.
Newspaper Excerpt: receiver of the Farmers & Merchants bank in Carson City ... closed banks
Source: newspapers

Newspaper Articles (1)

1. March 10, 1932 The Grand Rapids Press Grand Rapids, MI

Article from The Grand Rapids Press, March 10, 1932

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Article Text

CARSON CITY BANK ASSETS INCREASED BY RESTITUTION bank and their attorneys preparing suits against officers directors of closed banks who withdrew funds from their institutions just prior to their closing, Paul advised Thursday Voorhies recently sent notices to receivers calling their attention reports reaching him to the ef fect that hundreds of thousands dollars had been withdrawn through inside information that the banks were insolvent and directing them to take action to recover the assets The receiver of the Farmers & Merchants bank in Carson City formed Voorhies he had succeeded in increasing the bank's assets by $6,012 through restitution. The fairs of several banks in Wayne and counties are to be the subject of grand jury investigation, the attorney general was informed. No receivers have reported any suspicion of irregularity. Voorhies said. that called for criminal prose-