9426. Michigan Savings Bank (Vassar, MI)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
March 8, 1932
Location
Vassar, Michigan (43.372, -83.583)

Metadata

Model
gpt-5-mini
Short Digest
bcd8bedb

Response Measures

None

Description

OCR errors in Article 1 corrected. Article 1 (Mar 11, 1932) reports the Michigan Savings Bank, Vassar, closed for reorganization (closed 'Tuesday of last week' — interpreted as 1932-03-08). Article 2 (Jul 3, 1932) reports a receiver was appointed (Lewis Walton) after a hearing; the bank was closed sometime earlier. No mention of a depositor run; closure appears to be by authorities and led to receivership, so classified as suspension_closure.

Events (2)
1. March 8, 1932 Suspension
Cause
Government Action
Cause Details
Bank was closed for reorganization with involvement of state banking authorities (closure ordered/handled by officials).
Newspaper Excerpt
The Michigan Savings Bank Vassar closed reorganization Tuesday of last week.
Source
newspapers
2. July 2, 1932 Receivership
Newspaper Excerpt
Vassar, July 2.-Lewis Walton of Ferndale formerly of appointed receiver for the Michigan Savings Bank this morning hearing in circuit court before Judge Henry H. Smith. ... testified the hearing on the petition that appointed for the bank, which was closed sometime
Source
newspapers

Newspaper Articles (2)
1. March 11, 1932 The Progress-Advance Pigeon, MI
Article from The Progress-Advance, March 11, 1932

Click image to open full size in new tab

Article Text

Neighboring News The Michigan Savings Bank Vassar closed reorganization Tuesday of last week. Farmers Snover, Sandusky and Peck Sugar of Caro for than acres beets. Malcom Crawford, Caro Schools was board directors the annual meeting held in Brookfield townfarmer, serving 25-day tence the county jail because refused pay his tax. appeared before Justice Lewis Hill pleaded guilty the charge, the pay spend days in chose has been named chairman of the Chamber Commerce. Other Arthur Maust: retary, Palmer; Treasurer, Denner. Elkton High School placed the accredited year period ending June 30, 1934.

2. July 3, 1932 The Flint Journal Flint, MI
Article from The Flint Journal, July 3, 1932

Click image to open full size in new tab

Article Text

FERNDALE MAN NAMED VASSAR BANK RECEIVER Vassar, July 2.-Lewis Walton of Ferndale formerly of appointed receiver for the Michigan Savings Bank this morning hearing in circuit court before Judge Henry H. Smith. Mr. Walton was by Edward Nelson of the state banking department testified the hearing on the petition that appointed for the bank, which was closed sometime The harp played minor role in Greek the lyre and cithara being much important.