Ferndale State Bank - Ferndale, MI

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 1, 1931*
Location: Ferndale, Michigan (42.461, -83.135)

Metadata

Model: gpt-5-mini
Short Digest: 5060ecbf

Response Measures

None

Description

Article reports the Ferndale bank 'closed last spring' (relative to Dec 21, 1931) and discusses alleged embezzlement by a former Ferndale banker. No run is mentioned; closure appears permanent. OCR in article is garbled; corrected phrasing in notes.

Events (2)

1. March 1, 1931* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank closed following allegations of embezzlement by a former Ferndale banker; article describes an investigation and charges against the former banker.
Newspaper Excerpt: bank closed last spring.
Source: newspapers

2. December 21, 1931 Other

Newspaper Excerpt: Embezzlement Is Denied By Former Ferndale Banker ... Dalby surrendered himself voluntarily ... He furnished $10,000 bond.
Source: newspapers

Newspaper Articles (1)

1. December 21, 1931 The Times Herald Port Huron, MI

Article from The Times Herald, December 21, 1931

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Article Text

Embezzlement Is Denied By Former Ferndale Banker (By The Associated Pontiac, Press) W. Dalby, Pointe Park, arrested today the order Judge Frank Doty, for the leged in an unlawful of the of the American State which formerly the dent. bank closed last spring. Facts leading up to arrest of Dalby disclosed in the cent one-man grand jury investiconducted by Judge Frank Doty. Dalby surrendered himself voluntarily notified The complaint against signed by George is from bank, offense that the other that he violated state bankIng laws, which there maximum attached of five Dalby arraigned today before Justice Russel Holland demanded an nation which for Dec. 30. He furnished $10,000 bond. The Pointe man wellknown in Detroit, where he engaged in banking realty for years. He president director American State bank Detroit the time headed the Ferndale also president of the American State bank of Dearborn.