Otisville State Bank - Otisville, MI

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: April 13, 1933
Location: Otisville, Michigan (43.166, -83.524)

Metadata

Model: gpt-5-mini
Short Digest: b17c9f05

Response Measures

None

Description

Article (Detroit Free Press, 1933-04-13) mentions conservator/pay schedule and lists 'The Pioneer Bank, North Branch,' indicating the bank was placed under state conservatorship (state action). No mention of a depositor run or subsequent reopening; classified as suspension followed by closure/receivership action (government conservatorship). OCR in article is garbled but bank identification is clear.

Events (1)

1. April 13, 1933 Suspension

Cause: Government Action
Cause Details: Placed under state conservator as part of state action to handle troubled banks; mentioned in context of state fixing pay for conservators of state banks after closures/appointments in Michigan in April 1933.
Newspaper Excerpt: The Pioneer Bank, North Branch
Source: newspapers

Newspaper Articles (1)

1. April 13, 1933 Detroit Free Press Detroit, MI

Article from Detroit Free Press, April 13, 1933

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Article Text

State Fixes Pay for Conservators Lowest to Be $1,000 in Michigan LANSING April Governor's mission Wednesday established sliding salary schedule to be paid to conservators of State banks. The schedule starts at for banks with resources up to and continues to salary $3,500. for banks between $3,000,000 and The salary for of in of $5,000,000 will subject special approval of the detailed schedule follows: banks tween $100,000 and between and $200,000; between between $300,000 $500,000 between $500,000 $750,000 and and $3,000 and and and when total $3,000,000 and schedule shows that are not overpaying the Governor matter fact. most of are accepting spirit public service that the salaries the maximums and some will be paid lower sums commission appointed two more Otisville State Bank Charles Parker: The Pioneer Bank, North Branch, Rapley.