9298. Citizens Savings Bank (Mount Clemens, MI)

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: November 23, 1932
Location: Mount Clemens, Michigan (42.597, -82.878)

Metadata

Model: gpt-5-mini
Short Digest: 2abf5a03

Response Measures

None

Description

The bank closed Nov. 23, 1932 and a receiver (B. A. Kalahar) handled asset distributions and foreclosure actions through 1944. No run is described in the articles; these are post-failure receivership and asset-sale notices, so the episode is a suspension that resulted in permanent closure/receivership.

Events (4)

1. November 23, 1932 Suspension

Cause Details: Article states the bank closed its doors on Nov. 23, 1932 but gives no explicit cause for the suspension in these notices (likely failure during Depression era).
Newspaper Excerpt: the old Citizen's Savings bank which closed its doors Nov. 23, 1932
Source: newspapers

2. December 27, 1933 Receivership

Newspaper Excerpt: was assigned as Receiver of the Citizen's Bank ... to the Reconstruction Fin[ance] Corporation ... assignment dated the twenty-sev[enth] of December, A D 1933 and the twenty-first day of De[cember] A. D. 1934, ... B. A. Kalahar, Receiver for the Savings Bank, a Michigan banking corporation, of Mount Clemens, Michigan, Assignee of Mortgagee. (article text, Jan 28, 1944).
Source: newspapers

3. September 14, 1943 Other

Newspaper Excerpt: A five per cent return to depositors in the old Citizen's Savings bank which closed its doors Nov. 23, 1932, was announced this morning by Bernard A. Kalahar, receiver, following authorization by Circuit Judge Neil E. Reid. Five thousand holders of deposit certificates will participate in the $127,468.02 ... The new payoff, scheduled for Oct. 5, will bring up to 50 per cent the return to depositors since the financial institution failed.
Source: newspapers

4. October 17, 1944 Other

Newspaper Excerpt: NOTICE OF SALE OF REMAINING ASSETS OF THE CITIZENS SAVINGS BANK ... the undersigned Receiver will offer for sale on the 17th day of October, A. D. 1944 ... all the remaining property both real and personal of the Citizens Savings Bank ... B. A. KALAHAR, Receiver of the Citizens Savings Bank, a Michigan Banking Corporation, of Mount Clemens, Mich.
Source: newspapers

Newspaper Articles (10)

1. September 14, 1943 The Daily Monitor Leader Mount Clemens, MI

Article from The Daily Monitor Leader, September 14, 1943

Click image to open full size in new tab

Article Text

Five Per Cent Return Is Set for October 5 5,000 to Benefit from Fourth Return to Depositors A five per cent return to depositors in the old Citizen's Savings bank which closed its doors Nov. 23, 1932, was announced this morning by Bernard A. Kalahar, receiver, following authorization by Circuit Judge Neil E. Reid. Five thousand holders of deposit certificates will participate in the $127,468.02 melon Kalahar revealed. RECOVER HALF The new payoff, scheduled for Oct. 5, will bring up to 50 per cent the return to depositors since the financial institution failed. A total of $1,296,273.20 will have been recovered for them when the new five per cent return is completed. The receiver urged that as many people as possible mail in their certificates so that checks may be sent out but said that See PAY-OFF-Page 6

2. January 7, 1944 The Daily Monitor Leader Mount Clemens, MI

Article from The Daily Monitor Leader, January 7, 1944

Click image to open full size in new tab

Article Text

place where the Circuit Court for the County of Macomb is held), of the premises described in said mortgage. or so much thereof as may be necessary to pay the amount due on said mortgage as aforesaid. with interest thereon and all legal costs, charges and expenses, including the attorney fee provided for by statute, and any sum or sums which may be paid by the undersigned at or before said sale for taxes. and or insurance on said premises: which premises are described as follows: Lot No. 10 of Block No. 44 of Mullett's Survey of the Village (now city) of Mt. Clemens according to the plat thereof recorded in the office of the Register of Deeds of Macomb County. Dated: December 23rd, A. D. 1943. B. A. Kalahar, Receiver Citizen's Savings Bank, a Michigan banking corporation. of Mount Clemens, Michigan, Assignee of Mortgagee. NUNNELEY & -NUNNELEY Attorneys for Assignee of Mortgagee. Business Address: 221 Mt. Clemens Savings Bank Bldg. Mount Clemens, Michigan. Dec. 31; Jan. 7, 14, 21. 28: Feb. 4.11-M.-L.

3. January 14, 1944 The Daily Monitor Leader Mount Clemens, MI

Article from The Daily Monitor Leader, January 14, 1944

Click image to open full size in new tab

Article Text

- - ... Jaisu mb. in Liber 278 of Mostgages 234: on which mortgage there jo SE predun pue enp 09 of PO this notice. for principal and the sum of eleven thousand hundred seventy-three and ou pue subject proceedings at law or in equity been instituted to recover the ured by said mortgage or any reof: : Now therefore. by virtue ower of sale contained in said e and the statute in such case nd provided. and in pursuance der entered on the twenty-ninth March. A. D. 1935. in equity umber 8640 nending in the Cirrt for the County of Macomb. , Michigan. wherein Rudolph hert. State Banking Commisis plaintiff and the Citizen's Bank a Michigan banking corof Mount Clemens. Michigan. dont Notice is hereby given Tuesday. the fifteenth day of v. A. n. 1944. at ten o'clock in noon. Eastern War Time said e will be foreclosed by the sale e vendue to the highest bidder vesterly or Gratiot Avenue enof the Macomb County Building. itv of Mount Clemens. Macomb Michigan (that being the here the Circuit Court for the of Macomb is held). of the : described in said mortgage. uch thereof as may be necespay the amount due on said e as aforesaid. with interest and all legal costs. charges and 5. including the attorney for for by statute. and any sum which may be paid by the undi at or before said sale for id /or insurance on said premich premises are described as . 10 of Block No. 44 of MulSurvey of the Village (now f Mt Clemens according to t thereof recorded in the ofthe Register of Deeds of MaCounty. December 23rd. A. D. 1943. A. Kalahar. Receiver Citizen's vings Bank. a Michigan bank2 corporation. of Mount Clems. Michigan. Assignee of ortgagee. LEY & NUNNELEY. s for Assignee of Mortgagee.

4. January 21, 1944 The Daily Monitor Leader Mount Clemens, MI

Article from The Daily Monitor Leader, January 21, 1944

Click image to open full size in new tab

Article Text

of an order entered on the twenty-ninth day of March, A. D. 1935, in equity cause number 8640 pending in the Circuit Court for the County of Macomb, State of Michigan, wherein Rudolph E. Reichert, State Banking Commissioner, is plaintiff. and the Citizen's Savings Bank, a Michigan banking corporation of Mount Clemens. Michigan, is defendant. Notice is hereby given that on Tuesday, the fifteenth day of February, A. D. 1944, at ten o'clock in the forenoon, Eastern War Time, said mortgage will be foreclosed by the sale at public vendue to the highest bidder at the westerly or Gratiot Avenue entrance to the Macomb County Building. in the City of Mount Clemens, Macomb County. Michigan. (that being the place where the Circuit Court for the County of Macomb is held), of the premises described in said mortgage, or so much thereof as may be necessary to pay the amount due on said mortgage as aforesaid. with interest thereon and all legal costs, charges and expenses, including the attorney fee provided for by statute, and any sum or sums which may be paid by the undersigned at or before said sale for taxes and/or insurance on said premises: which premises are described as follows: Lot No. 10 of Block No. 44 of Mullett's Survey of the Village (now city) of Mt Clemens according to the plat thereof recorded in the office of the Register of Deeds of Macomb County. Dated: December 23rd. A. D. 1943. B. A. Kalahar, Receiver Citizen's Savings Bank, a Michigan banking corporation, of Mount Clemens, Michigan, Assignee of Mortgagee. NUNNELEY & NUNNELEY. Attorneys for Assignee of Mortgagee. Business Address: 221 Mt Clemens Savings Bank Bldg. Mount Clemens, Michigan. Dec. 31; Jan. 7, 14, 21, 28; Feb. 4. 11-M.-L.

5. January 28, 1944 The Daily Monitor Leader Mount Clemens, MI

Article from The Daily Monitor Leader, January 28, 1944

Click image to open full size in new tab

Article Text

was assigned as Receiver of the Citizen's Bank, a Michigan banking ration. to the Reconstruction Fin rporation, a Federal corporation signment dated the twenty-sev of December. A D 1933 and the twenty-first day of De A D. 1934, in the office of egister of Deeds fort the Count acomb in Liber 246 of Mortgage 277: which said mortgage wa by the Reconstruction Fir rporation. a Federal corporatio A. Kalahar. Receiver for the Savings Bank. a Michigan I corporation. by assignment eleventh day of July, A. D. recorded on the twenty-eighth July. A. D. 1939 in the office Register of Deeds for the C Macomb. in Liber 278 of Mort page 234: on which mortgage claimed to be due and unpaid of this notice. for principal terest, the sum of eleven tho hundred seventy-three 1/100 dollars ($11.773.13): and or proceedings at law or in e eving been instituted to recove secured by said mortgage or thereof: Now. therefore. by \ the power of sale contained in ortgage and the statute in such and provided. and in pursi an order entered on the twentyof March, A. D. 1935. in e number 8640 pending in the Court for the County of Mac of. Michigan. wherein Ru Reichert. State Banking Con is plaintiff and the Citi vings Bank A Michigan banking ration of Mount Clemens. Mich defendant Notice is hereby on Tuesday, the fifteenth da ebruary, A. D. 1944, at ten o'clo forenoon. Eastern War Time. ortgage will be foreclosed by the public vendue to the highest b the westerly or Gratiot Avenue to the Macomb County Buil the City of Mount Clemens. Ma Michigan. (that being where the Circuit Court for unty of Macomb is held). of emises described in said morts so much thereof as may be n to pay the amount due, on ortgage as aforesaid. with int ereon and all legal costs. charges penses, including the attorney ovided for by statute. and any sums which may be paid by the rsigned at or before said sale and/or Insurance on said p which premises are describe lows: ot No 10 of Block No 44 of * Survey of the Village (1 of Mt. Clemens according plat thereof recorded in the of the Register of Deeds of amb County. December 23rd. A. D. 194 B. A. Kalahar, Receiver Citi Savings Bank. a Michigan 1 ing corporation. of Mount ( ens, Michigan, Assignee Mortgagee. UNNELEY & NUNNELEY. torneys for Assignee of Mortg isiness Address: Mt Clemens Savings Bank Bld ount Clemens, Michigan. Dec. 31; Jan. 7, 14, 21. 28: 4. 11-M

6. February 11, 1944 The Daily Monitor Leader Mount Clemens, MI

Article from The Daily Monitor Leader, February 11, 1944

Click image to open full size in new tab

Article Text

MONITOR-LEADER 13,866 February, A. D. 1944. at ten o'clock in in the Circuit Court the forenoon, Eastern War Time. said acomb in Chancery. mortgage will be foreclosed by the sale Plaintiff, vs. Charat public vendue to the highest bidder Cruell), Frederick at the westerly or Gratiot Avenue entrance to the Macomb County Building, Hall, Panthea Hall, in the City of Mount Clemens. Macomb Wells, Hall, County, Michigan. (that being the Rodney O. Cooley, place where the Circuit Court for the as Francis) CrewCounty of Macomb is held). of the (or Neckel), forpremises described in said mortgage, harles Arndt (also or so much thereof as may be necesand/or their and sary to pay the amount due on said heirs, devisees. mortgage as aforesaid. with interest administrators and thereon and all legal costs, charges and expenses, including the attorney fee said Court held at provided for by statute, and any sum the City of Mount or sums which may be paid by the unday of December, dersigned at or before said sale for taxes and/or insurance on said premE. Reid, Circuit ises: which premise's are described as follows: atisfactorily appearhere that the deLot No. 10 of Block No. 44 of MulCruwell (or Crulett's Survey of the Village (now well. Knowles Hall, city) of Mt. Clemens according to the plat thereof recorded in the ofHall, Sarah Hall, V. B. Wells. Rodfice of the Register of Deeds of Ma(also known as comb County. ertrude Neackel (or Dated: December 23rd. A. D. 1943. Crewell, Charles B. A. Kalahar, Receiver Citizen's as Carl Arndt) Savings Bank. a Michigan bankof their unknown ing corporation, of Mount Clemexecutors. adens. Michigan, Assignee of are necessary Mortgagee, to the above enNUNNELEY & NUNNELEY. that the plaintiff. Attorneys for Assignee of Mortgagee. Business Address: has made and filed 221 Mt. Clemens Savings Bank Bldg. that the present Mount Clemens, Michigan. eabouts of said deDec. 31; Jan. 7, 14,21.28: Feb. unknown heirs, de4. 11-M.-L. assigns are unanet be acertain-

7. September 22, 1944 The Daily Monitor Leader Mount Clemens, MI

Article from The Daily Monitor Leader, September 22, 1944

Click image to open full size in new tab

Article Text

# NOTICE be paid within three (3) days after the sale. Said property will be offered for sale subject to all claims, liens and encumbrances of any name and nature, the Receiver selling what ever, interest he may have in the assets, without recourse or warranty of any kind of character. That the Receiver has on file at his office a list describing the assets to be sold and which said list is open for examination by any party or parties interested in buying the property at the sale above described. Any sale or sales will be made subject to confirmation of the court before said sale or sales become absolute and confirmation of said sale or sales will be brought on for hearing before said court on the 24th day of October, A. D., 1944, at ten o'clock in the forenoon, Eastern War time, or as soon thereafter as may be proper. Any creditor or stockholder of the Citizen's Savings Bank may become either personally or by his agent or agents, purchaser or purchasers of any of the said property at such sale or sales. In the event any purchaser or purchasers shall fail to comply with any of the conditions of the said sale or any terms of the Court in respect thereto or in respect to the payment in cash or any part of the purchase price aforesaid, all sums received from or paid by such purchaser or purchasers will unless the Court shall otherwise direct, be forfeited as a penalty for such failure. B. A. KALAHAR, Receiver of the Citizen's Savings Bank, a Michi- gan Banking Corporation, of Mount Clemens, Mich.

8. September 22, 1944 The Daily Monitor Leader Mount Clemens, MI

Click image to open full size in new tab

Article Text

B.A. KALAHAR, Receiver of the Citizen's Savings Bank. a Michigan Banking Corporation, of Mount Clemens, Mich.

9. September 29, 1944 The Daily Monitor Leader Mount Clemens, MI

Article from The Daily Monitor Leader, September 29, 1944

Click image to open full size in new tab

Article Text

NOTICE OF SALE OF REMAINING ASSETS OF THE CITIZENS SAVINGS BANK Notice is hereby given that pursuant to an order and decree of said court, duly entered on the 12th day of September A. D. 1944, the undersigned Receiver will offer for sale on the 17th day of October, A. D. 1944. at ten o'clock in the forenoon of said day. Eastern War time, or at any subsequent time and hour as approved by said court. at this office located at 506 Monitor Leader Building, City of Mount Clemens. Michigan. all the remaining property both real and personal of the Citizen's Savings Bank at public or private auction, collectively or separately for the best prices obtainable to the highest bidder, for cash. ten per cent (10%) to be paid down at the time of sale, balance to be paid within three (3) days after the sale. Said property will be offered for sale subject to all claims. liens and encumbrances of any name and nature, the Receiver selling what ever interest he may have in the assets, without recourse or warranty of any kind of character. That the Receiver has on file at his office a list describing the assets, to be sold and which said list is open for examination by any party or parties interested in buying the property at the sale above described. Any sale or sales will be made subject to confirmation of the court before said sale or sales become absolute and confirmation of said sale or sales will be brought on for hearing before said court on the 24th day of October, A. D., 1944. at ten o'clock in the forenoon. Eastern War time. or as soon thereafter as may be proper. Any creditor or stockholder of the Citizen's Savings Bank may become either personally or by his agent or agents. purchaser or purchasers of any of the said property at such sale or sales. In the event any purchaser or purchasers shall fail to comply with any of the conditions of the said sale or any terms of the Court in respect. thereto or in respect to the payment in cash or any part of the purchase price aforesaid. all sums received from or paid by such purchaser or purchasers will unless the Court shall otherwise direct. be forfeited as a penalty for such failure. B. A. KALAHAR. Receiver of the Citizen's Savings Bank, a Michigan Banking Corporation, of Mount Clemens, Mich. NUNNELEY & NUNNELEY, Attorneys for Receiver. 221 Mount Clemens Savings Bank Bldg. Mount Clemens. Michigan. Sept. 22. 29: Oct. 6-M.-L.

10. October 6, 1944 The Daily Monitor Leader Mount Clemens, MI

Article from The Daily Monitor Leader, October 6, 1944

Click image to open full size in new tab

Article Text

NOTICE OF SALE OF REMAINING ASSETS OF THE CITIZENS SAVINGS BANK Notice is hereby given that pursuant to an order and decree of said court, duly entered on the 12th day of September A. D. 1944, the undersigned Receiver will offer for sale on the 17th day of October. A. D. 1944. at ten o'clock in the forenoon of said day. Eastern War time, or at any subsequent time and hour as approved by said court, at this office located at 506 Monitor Leader Building, City of Mount Clemens, Michigan, all the remaining property both real and personal of the Citizen's Savings Bank at public or private auction. collectively or separately for the best prices obtainable to the highest bidder, for cash, ten per cent (10%) to be paid down at the time of sale, balance to be paid within three (3) days after the sale. Said property will be offered for sale subject to all claims. liens and encumbrances of any name and nature. the Receiver selling what ever interest he may have in the assets, without recourse or warranty of any kind of character. That the Receiver has on file at his office a list describing the assets to be sold and which said list is open for examination by any party or parties interested in buying the property at the sale above described. Any sale or sales will be made subject to confirmation of the court before said sale or sales become absolute and confirmation of said sale or sales will be brought on for hearing before said court on the 24th day of October, A. D., 1944. at ten o'clock in the forenoon, Eastern War time, or as soon thereafter as may be proper. Any creditor or stockholder of the Citizen's Savings Bank may become either personally or by his agent or agents. purchaser or purchasers of any of the said property at such sale or sales. In the event any purchaser or purchasers shall fail to comply with any of the conditions of the said sale or any terms of the Court in respect thereto or in respect to the payment in cash or any part of the purchase price aforesaid. all sums received from or paid by such purchaser or purchasers will unless the Court shall otherwise direct. be forfeited as a penalty for such failure. B. A. KALAHAR. Receiver of the Citizen's Savings Bank, a Michigan Banking Corporation, of Mount Clemens, Mich. NUNNELEY & NUNNELEY, Attorneys for Receiver. 221 Mount Clemens Savings Bank Bldg. Mount Clemens. Michigan. Sept. 22. 29: Oct. 6-M.-L.