Polish American Bank - Grand Rapids, MI

Episode Information

Episode UID: 74001571581
Episode Type: Suspension → Closure
Bank Type: state
Bank ID: 7400157 routing
Routing Number: 74-0015
Start Date: September 24, 1931
Location: Grand Rapids, Michigan (42.961, -85.656)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: a45045f3c2a668d1

Response Measures

None

Description

Article references the bank as a private institution and later mentions 'Polish National' (probable OCR/name confusion).

Events (2)

1. September 24, 1931 Suspension

Cause Details: Article gives no specific cause for the closure; only notes it closed on Sept. 24.
Newspaper Excerpt: the private institution which closed Sept. 24
Source: newspapers

2. January 30, 1932 Receivership

Newspaper Excerpt: Michigan Trust Co., receiver for the Polish American bank, ... filed its first report in circuit court Saturday
Source: newspapers

Newspaper Articles (1)

1. January 30, 1932 The Grand Rapids Press Grand Rapids, MI

Article Text

POLISH AMERICAN BANK RECEIVER FILES REPORT Michigan Trust Co., receiver for the Polish American bank, the private institution which closed Sept. 24, filed its first report in circuit court Saturday, showing it had on hand for distribution $20,240.80. Asking advice of the court in the matter, the receiver relates that the sum hardly is sufficient for a 10 per cent dividend and advises against distribution because the expense is not justified unless a full 10 per cent can be declared. Around 1,000 persons would participate, according to the report. Judge Willis B. Perkins has set Feb. 15 for hearing on notice to creditors to show cause why the report should not be received. The trust company reports that, making no allowance for receivers fee, the receivership has been operating at a profit of $1,093.14 up to Jan. 19. There has been no purchaser for the bank building, on which there is a mortgage of $24,581.30. On these details the receiver asks the advice of the court and the creditors. The Polish National, being a private bank, naturally is not a member of the Grand Rapids Clearing House association.