8949. Center Line State Savings Bank (Center Line, MI)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
April 14, 1942
Location
Center Line, Michigan (42.485, -83.028)

Metadata

Model
gpt-5-mini
Short Digest
e07115c1

Response Measures

None

Description

Articles (Apr and Nov 1942) describe the bank as defunct and under a receiver (Melvin Van Howe) with payoffs to depositors underway. No run or reopening is mentioned. Classified as a suspension leading to permanent closure/receivership.

Events (2)
1. April 14, 1942 Receivership
Newspaper Excerpt
Melvin Van Howe, receiver for the bank, has declined to give the county a definite answer because he claims the property may be sold.
Source
newspapers
2. November 23, 1942 Other
Newspaper Excerpt
A 10 per cent payoff totaling $48,000 to 700 depositors of the defunct Center Line State Savings Bank was underway today at the office of Melvin Van Howe, the receiver.
Source
newspapers

Newspaper Articles (3)
1. April 14, 1942 The Daily Monitor Leader Mount Clemens, MI
Article from The Daily Monitor Leader, April 14, 1942

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Article Text

# Act to Repair # Police Post State Trooper Detail Assured The Board of Supervisors this morning authorized County Controller Sherwood Bennett to make necessary repairs to the old Center Line Savings Bank building, provided the property can be leased as temporary headquarters for the proposed state police post. A spokesman for Gov. Murray D. Van Wagoner last week assured Bennett that the state will establish a seven-man post in South Macomb if suitable quarters can be rented. The state will pay the rental provided the county pays the cost of converting the building, it was agreed. Melvin Van Howe, receiver for the bank, has declined to give the county a definite answer because he claims the property may be sold.

2. November 23, 1942 The Daily Monitor Leader Mount Clemens, MI
Article from The Daily Monitor Leader, November 23, 1942

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Article Text

Center Line Savings' Bank Payoff Underway A 10 per cent payoff totaling $48,000 to 700 depositors of the defunct Center Line State Savings Bank was underway today at the office of Melvin Van Howe, the receiver, 25307 Van Dyke. The payoff lifts to 87 1/2 per cent the amount paid since the bank entered receivership. Certificates should either be presented personally to Van Howe or mailed to him. An order authorizing the payoff was signed by Circuit Judge James E. Spier.

3. November 24, 1942 Detroit Evening Times Detroit, MI
Article from Detroit Evening Times, November 24, 1942

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Article Text

Bank Depositors Get New 10 Pct. Payoff CENTER LINE, Nov. 24-A $48,000 payoff to 700 depositors of the defunct Center Line Savings Bank was under way today at the office of Melvin Vanhowe, receiver, 25307 Van Dyke avenue. The current 10 per cent payoff lifts to 87½ per cent the total paid depositors since the bank entered receivership.