E Jossman State Bank - Clarkston, MI

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: *
Location: Clarkston, Michigan (42.736, -83.419)

Metadata

Model: gpt-5-mini
Short Digest: 759be0ee

Response Measures

None

Description

Article states the bank was closed after the Banking Commissioner discovered malfeasance; former cashier Ralph E. Jossman's embezzlement conviction is cited and receivers are referenced. No run or depositor panic is mentioned.

Events (2)

1. * Receivership

Newspaper Excerpt: All his earnings in excess of $125 per month will go to the receivers of the E. Jossman state bank and will be pro-rated among the depositors.
Source: newspapers

2. * Suspension

Cause: Bank Specific Adverse Info
Cause Details: Banking Commissioner E. H. Doyle discovered embezzlement/unsafe condition that led to the bank's closing.
Newspaper Excerpt: Doyle, whose discovery of the condition in the E. Jossman state bank of Clarkston was responsible for the closing of the bank
Source: newspapers

Newspaper Articles (1)

1. December 1, 1916 South Bend News-Times South Bend, IN

Article from South Bend News-Times, December 1, 1916

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Article Text

EMBEZZLER IS PAROLED R. E. Jossman is Released on Most Stringent Parole Ever Given. News-Times Special Service: LANSING, Mich., Dec. 1.-Ralph E. Jossman, the former Clarkston banker, who was paroled by Gov. Ferris after he had served three years of a seven year term for embezzlement, was released under the most stringent restrictions ever placed on a paroled prisoner. Former Banking Commissioner E. H. Doyle, whose discovery of the condition in the E. Jossman state bank of Clarkston was responsible for the closing of the bank and Ralph Jossman's conviction on a charge of embezzlement, has been named as Jossman's first friend. The former cashier has been given a position in the Ford factory at Detroit. Under the terms of his parole all his earnings in excess of $125 per month will go to the receivers of the E. Jossman state bank and will be pro-rated among the depositors. Jossman's accounts will be audited each month.