Millburg State Bank - Millburg, MI

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 9, 1933
Location: Millburg, Michigan (42.123, -86.342)

Metadata

Model: gpt-5-mini
Short Digest: 68cbe82a

Response Measures

None

Description

Article (The Herald-Palladium, 1934-07-05) reports a receiver named for Millburg State Bank on 1934-07-05 and states the bank has been operated by [state authorities] since the banking holiday of 1933. No run is mentioned. I infer the bank suspended during the 1933 banking holiday (government action) and remained closed, culminating in a receivership in 1934. OCR oddities corrected (e.g., pointed the receiver -> appointed the receiver).

Events (2)

1. March 9, 1933 Suspension

Cause: Government Action
Cause Details: Closed/operated under state control during the 1933 banking holiday (banking holiday/government intervention).
Newspaper Excerpt: The Millburg State Bank has been operated by since the banking holiday of 1933.
Source: newspapers

2. July 5, 1934 Receivership

Newspaper Excerpt: MILLBURG BANK RECEIVER NAMED... Kenneth Gustafson... has appointed the receiver the Millburg State Bank... word received here from Lansing today.
Source: newspapers

Newspaper Articles (1)

1. July 5, 1934 The Herald-Palladium Benton Harbor, MI

Article from The Herald-Palladium, July 5, 1934

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Article Text

MILLBURG BANK RECEIVER NAMED Kenneth Gustafson, St. Joseph building has pointed the receiver the Millburg State Bank, according to word ceived here from Lansing today. Mr. Gustafson has been called to Lansing by Rudolph Reichert, the state where he will report Friday The Millburg State Bank has been operated by since the banking holiday of 1933.