Comstock Park State Bank - Comstock Park, MI

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: April 8, 1932
Location: Comstock Park, Michigan (43.039, -85.670)

Metadata

Model: gpt-5-mini
Short Digest: daafcabb

Response Measures

None

Description

Bank closed April 1932 and a receiver was appointed mid-April; later June filings describe reorganization efforts and receiver discharge, but there is no clear statement that the bank resumed normal operations. No run is described; closure appears to have led to receivership.

Events (3)

1. April 8, 1932 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank failed to open due to frozen assets/insolvency concerns; assets and deposits problematic (president announced closure because frozen).
Newspaper Excerpt: COMSTOCK PARK STATE IS CLOSED TODAY ... Comstock Park State bank in the suburb of Comstock Park failed open its doors for business morning, its president, Buth, announcing that the action was taken because frozen
Source: newspapers

2. April 16, 1932 Receivership

Newspaper Excerpt: COMSTOCK PARK BANK RECEIVER APPOINTED ... Circuit Judge William B. Brown has Frank Gard for the Park State bank Petition for appointment of the receiver filed by the state ... the petition sets up that capital stock of the bank is $20,000 and surplus at the time of closing ... liabilities at $324,767.
Source: newspapers

3. June 2, 1932 Other

Newspaper Excerpt: Plans Started Reorganization of Institution in Comstock Park ... suburban Comstock Park State bank Thursday out temporary ceivership as officers pressed reorganization plans. Frank Card was discharged receiver Wednesday by Circuit Judge W. B. Brown ... reported the closed bank now $312,553 and liabilities of $278,885. ... ordered the repayment of The $30,000 borrowed from Reconstruction Finance corporation ... suit filed in the recovery ... alleged his deposit accepted while bank offiknew the institution was insolvent.
Source: newspapers

Newspaper Articles (3)

1. April 8, 1932 The Herald-Palladium Benton Harbor, MI

Article from The Herald-Palladium, April 8, 1932

Click image to open full size in new tab

Article Text

COMSTOCK PARK STATE IS CLOSED TODAY GRAND RAPIDS, April Comstock Park State bank in the suburb of Comstock Park failed open its doors for business morning, its president, Buth, announcing that the action was taken because frozen The bank is capitalized at $20,000. Buth said it's total assets totaled approximately $450,000. Frank Bard, state bank examiner, refused reveal the total deposits the bank.

2. April 16, 1932 The Grand Rapids Press Grand Rapids, MI

Article from The Grand Rapids Press, April 16, 1932

Click image to open full size in new tab

Article Text

NEWS OF BUSINESS COMSTOCK PARK BANK RECEIVER APPOINTED Circuit Judge William B. Brown has Frank Gard for the Park State bank Petition for appointment of the receiver filed by the state torney for Rudolph E. Reichert state banking commissioner. The in the petition sets up that capital stock of the bank is $20,000 and surplus at the time of closing figures sources and liabilities at $324,767. Hum of the Business World. Illinois Central railroad has removed freight and passenger room 812 701 from Grand Rapids Trust building.

3. June 2, 1932 Lansing State Journal Lansing, MI

Article from Lansing State Journal, June 2, 1932

Click image to open full size in new tab

Article Text

Plans Started Reorganization of Institution in Comstock Park GRAND RAPIDS, June suburban Comstock Park State bank Thursday out temporary ceivership as officers pressed reorganization plans. Frank Card was discharged receiver Wednesday by Circuit Judge W. B. Brown on his own petition after Card had reported the closed bank now $312,553 and liabilities of $278,885. ordered the repayment of The $30,000 borrowed from Reconstruction Finance corporation $5,000 borrowed the Grand Rapsuit filed in the recovery Erstein. alleged his deposit accepted while bank offiknew the institution was insolvent.