Bank of Saginaw - Saginaw, MI

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 1, 1933*
Location: Saginaw, Michigan (43.419, -83.951)

Metadata

Model: gpt-5-mini
Short Digest: 11c080c4

Response Measures

None

Description

Article states the bank closed in 1933 and a receiver (Donald Bicknell) is making payoffs in 1941. No mention of a depositor run triggering the closure; receiver indicates the bank failed and remained closed. Cause of the suspension/closure is not specified in the excerpt, so classified as 'other'.

Events (3)

1. January 1, 1933* Suspension

Cause Details: Article only reports that the bank closed in 1933; no specific cause given.
Newspaper Excerpt: the bank closed in 1933.
Source: newspapers

2. September 27, 1941 Other

Newspaper Excerpt: It will bring to 90 per cent the total of deposits paid off since the bank closed in 1933.
Source: newspapers

3. September 27, 1941 Receivership

Newspaper Excerpt: Another payoff of 10 per cent to Bank of Saginaw depositors will begin Monday, it was announced here by Receiver Donald Bicknell.
Source: newspapers

Newspaper Articles (1)

1. September 28, 1941 Detroit Evening Times Detroit, MI

Article from Detroit Evening Times, September 28, 1941

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Article Text

Saginaw Bank Gives Another 10 Pct. Payoff SAGINAW, Sept. 27.-Another payoff of 10 per cent to Bank of Saginaw depositors will begin Monday, it was announced here by Receiver Donald Bicknell. It will bring to 90 per cent the total of deposits paid off since the bank closed in 1933.