Bank of Detroit (Detroit, MI)

Episode Information

Episode UID
9006071599
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
900607 routing
Routing Number
9-0060
Start Date
March 21, 1933
Location
Detroit, Michigan (42.331, -83.046)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a4f587486f9cc389

Response Measures

None

Description

Evidence shows prior bank failure/receivership and a new Bank of Detroit created by government-related bodies; chronology and exact prior suspension date are not fully documented in the snippets.

Events (3)
1. March 21, 1933 Other
Newspaper Excerpt
Out the government study the Detroit banking situation plans erged today creation of the Bank of Detroit stand the place of the First National Bank of Commerce
Source
newspapers
2. November 8, 1933 Receivership
Newspaper Excerpt
Depositors will receive $19,374,563, the Treasury said...the bank's receivers had been working day and night
Source
newspapers
3. * Suspension
Cause
Government Action
Cause Details
Bank was in receivership and under Treasury/receiver control; payments being made by receiver
Newspaper Excerpt
the bank's receivers had been working day and night in an efforts to release this money
Source
newspapers

Newspaper Articles (2)
1. March 21, 1933 Morning Pioneer Mandan, ND
Article from Morning Pioneer, March 21, 1933

Click image to open full size in new tab

Article Text

NEW BANK FOR DETROIT, MICH. Washington, Mar. 21 (AP)-Out the government study the Detroit banking situation plans erged today creation of the Bank of Detroit stand the place of the First National Bank of Commerce The new bank capital of 25,000,000, half subscribed Reconstruction Corporation and the remainder by the General Mo tors

2. November 8, 1933 The Philadelphia Inquirer Philadelphia, PA
Article from The Philadelphia Inquirer, November 8, 1933

Click image to open full size in new tab

Article Text

DETROIT BANK TO PAY DIVIDEND FRIDAY The Treasury today that payment date for the 20 per cent. dividend of the Guardian National Bank Commerce been advanced to Depositors will receive $19,374,563, the Treasury said The payment was made possible, the Treasury said, by the fact that the bank's receivers had been working day and night in an ef. forts to release this money as soon as The payment will bring the total paid by bank to 60 per cent. $58,338,958. The 10 per cent. dividend to 706. 949 depositors in the Bank or Detroit will probably be made on 15, previously announced. although the Treasury said its receiver also making effort to speed up this payment. The First dividend will to $34 and will bring the total paid to 50 per cent., or $169,992,357