9151. East Grand Rapids State Bank (Grand Rapids, MI)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 14, 1934
Location
Grand Rapids, Michigan (42.961, -85.656)

Metadata

Model
gpt-5-mini
Short Digest
50036789

Response Measures

None

Description

Articles (Apr 14 and Nov 5, 1934) describe the Galewood-Wyoming State Bank being closed, liquidated, and in receivership with a receiver (William A. McCaslin) making partial payments to depositors. No run or depositor panic is described. OCR corrected hyphenation (Galewood-Wyoming) and spacing (GalewoodWyoming).

Events (2)
1. April 14, 1934 Suspension
Cause
Government Action
Cause Details
Bank closed and placed in liquidation under a receiver (William A. McCaslin); partial payoff arranged through successor bank/receiver.
Newspaper Excerpt
Galewood Wyoming State bank is to be closed and liquidated ... William A. McCaslin, receiver, announced ... depositors ... receive percentage of their impounded deposits
Source
newspapers
2. November 5, 1934 Receivership
Newspaper Excerpt
Receivership offices for the ... GalewoodWyoming bank ... will be closed all day Tuesday because of the election.
Source
newspapers

Newspaper Articles (2)
1. April 14, 1934 The Grand Rapids Press Grand Rapids, MI
Article from The Grand Rapids Press, April 14, 1934

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Article Text

PAY PART OF Galewood Wyoming Bank Sets Monday as Day to Present Claims. William A. McCaslin, receiver, announced Saturday that depositors in the Galewood-Wyoming State bank receive percentage of their impounded deposits, beginning Monday morning, the payoff be made the Peoples National Bank Grand Rapids, successor to the Grand Rapids Savings bank. The receiver has received from the federal reserve bank, through RFC. about $100,000 the Wyoming bank has depositors and deposits amount $225,000. Pay at Peoples National. Depositors in that bank are present the Peoples National bank where they will find their prepared awaiting their signatures. Depositors in that bank received per cent payment after the bank holiday. Galewood Wyoming State bank is to be closed and liquidated at the former Grand Savings bank by this being more money for Mr. McCaslin said that East Grand Rapids State bank are being prepared for a payoff to its depositors.

2. November 5, 1934 The Grand Rapids Press Grand Rapids, MI
Article from The Grand Rapids Press, November 5, 1934

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Article Text

BANK RECEIVERS CLOSE OFFICES ELECTION DAY Receivership offices for the Grand Rapids Savings bank, Grand Rapids National bank, American Home Security bank, GalewoodWyoming bank and East Grand Rapids will be closed all day Tuesday because of the election.