9436. Newaygo County Bank (White Cloud, MI)

Bank Information

Episode Type
Suspension → Closure
Bank Type
private
Start Date
April 1, 1926*
Location
White Cloud, Michigan (43.550, -85.772)

Metadata

Model
gpt-5-mini
Short Digest
ae7d9e22

Response Measures

None

Description

Articles report the Newaygo County Bank (a private institution) in White Cloud closed/failed in April 1926 due to delayed loan payments. A receiver was appointed and later a dividend was ordered to be paid to creditors. No run or customer withdrawal panic is described, so this is a suspension leading to permanent closure with receivership.

Events (3)
1. April 1, 1926* Receivership
Newspaper Excerpt
Bank Receiver Named WHITE CLOUD. Mich., April ... receiver appointed by the old state bank of Freemont. Delayed payments on loans are said to have caused ... B. Sicles is president.
Source
newspapers
2. April 26, 1926 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Delayed payments on loans (poor loan portfolio) caused insolvency and closure
Newspaper Excerpt
the Newaygo County bank White Cloud failed April 26, 1926
Source
newspapers
3. April 8, 1927 Other
Newspaper Excerpt
granting the petition of the bank receiver... the Old State bank of Fremont, to pay a 20 per cent dividend on liabilities... Depositors whose claims were below $50 each have been paid ... It is expected another dividend will be declared in 60 days.
Source
newspapers

Newspaper Articles (2)
1. April 15, 1926 Lansing State Journal Lansing, MI
Article from Lansing State Journal, April 15, 1926

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Article Text

Bank Receiver Named WHITE CLOUD. Mich., April of the Newaygo county bank, private institution, which recently closed its doors, have to have receiver appointed by the old state bank of Freemont. Delayed payments on loans are said to have caused the B. Sicles is president.

2. April 8, 1927 Battle Creek Moon-Journal Battle Creek, MI
Article from Battle Creek Moon-Journal, April 8, 1927

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Article Text

DEFUNCT BANK AT BIG RAPIDS PAYS CLAIMS ficials of the township the Whit Cloud board of education, the Od Fellow lodge and numerous sma creditors who lost their deposi: when the Newaygo County bank White Cloud failed April 26, 1926 are rejoicing because of an orde by Judge Joseph Barton of BI Rapids, granting the petition of the bank receiver. the Old State ban of Fremont, to pay a 20 per cen dividend on liabilities. amounting to $44,000 Depositors whose claim were below $50 each have bee with prospects that claims not et ceeding $100 also will be cared It is expected another dividend will be declared in CO days. The waygo County bank failed about $47,000