Roseville State Savings Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: March 1, 1933*
Location: Roseville, Michigan (42.497, -82.937)

Metadata

Model: gpt-5-mini
Short Digest: 7d8154ba

Response Measures

None

Description

Article (1941) reports the bank was closed shortly before the nationwide banking holiday of the early 1930s and remained in receivership; final liquidation payment expected April 1941. OCR likely misstates the holiday year as 1932 — corrected to the well-known nationwide banking holiday in March 1933. No run is mentioned in the text.

Events (2)

1. March 1, 1933* Suspension

Cause: Government Action
Cause Details: Closed in connection with the nationwide banking holiday/banking shutdown during the early-1930s crisis (article text says shortly before the nationwide banking holiday).
Newspaper Excerpt: the bank was closed shortly before the nationwide banking holiday of 1932.
Source: newspapers

2. April 1, 1941* Receivership

Newspaper Excerpt: final payment to depositors which will conclude the receivership of the closed Roseville State Savings Bank was expected today to be made within two months ... Following the payment ... Riesterer will apply to the State Banking Department for a release from receivership under the circuit court.
Source: newspapers

Newspaper Articles (1)

1. February 13, 1941 The Daily Monitor Mount Clemens, MI

Article from The Daily Monitor, February 13, 1941

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Article Text

Expect Final Bank Payoff ROSEVILLE-A final payment to depositors which will conclude the receivership of the closed Roseville State Savings Bank was expected today to be made within two months, according to an announcement by Receiver Joseph E. Riesterer. Riesterer stated that the payment will release funds totaling approximatley 10 per cent of the total deposits on hand when the bank was closed shortly before the nationwide "banking holiday" of 1932. Only two or three parcels among the assets of the institution remain to be liquidated to clear the way for the final payment which will terminate the receivership. There are approximately 700 depositors to whom funds are still due, Riesterer said. Following the payment, which is expected to be made early in April, Riesterer will apply to the State Banking Department for a release from receivership under the circuit court.