Otisville State Bank (Otisville, MI)

Episode Information

Episode UID
74077771600
Episode Type
Suspension → Reopening
Bank Type
state
Bank ID
7407777 routing
Routing Number
74-0777
Start Date
April 12, 1933
Location
Otisville, Michigan (43.166, -83.524)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
c7b75177ec2ad315

Response Measures

None

Description

Conservator appointed by state commission in April 1933; formal reopening plan approved Dec 11, 1934.

Events (2)

1. April 12, 1933 Suspension
Cause
Government Action
Cause Details
State Governor's Banking Advisory Commission appointed a conservator for the bank.
Newspaper Excerpt
The commission appointed two more conservators Wednesday. They are: Otisville State Bank, Charles D. Parker;
Source
newspapers
2. December 11, 1934 Reopening
Newspaper Excerpt
Reorganization plans for the reopening of ... the Otisville State bank were approved by the governor's advisory banking committee today.
Source
newspapers

Newspaper Articles (3)

Article Text

State Fixes Pay for Conservators Lowest to Be $1,000 in Michigan LANSING, April 12—(A. P.)—The Governor's Banking Advisory Commission Wednesday established a sliding salary scale schedule to be paid to conservators of State banks. The schedule starts at $1,000 for banks with resources up to $100,000 and continues to a salary of $3,500, for banks with resources between $3,000,000 and $5,000,000. The salary for conservators of banks with resources in excess of $5,000,000 will be subject to special approval of the commission. The detailed schedule follows: $1,200 in banks with resources between $100,000 and $150,000; $1,500 between $150,000 and $200,000; $1,800 between $200,000 and $300,000; $2,000 between $300,000 and $500,000; $2,400 between $500,000 and $750,000; $2,500 between $750,000 and $1,000,000; $2,700 between $1,000,000 and $1,500,000; $3,000 between $1,500,000 and $2,000,000; $3,250 between $2,000,000 and $3,000,000, and $3,500 when resources total between $3,000,000 and $5,000,000. "This schedule shows that we are not overpaying the conservators," the Governor said. "As a matter of fact, most of them are accepting appointments in a spirit of public service. I want to emphasize that the salaries in the schedule are maximums and some will be paid lower sums." The commission appointed two more conservators Wednesday. They are: Otisville State Bank, Charles D. Parker; The Pioneer Bank, North Branch, J. A. Rapley.


Article Text

BANKS TO REOPEN LANSING, Dec. 11—(AP)—Reorganization plans for the reopening of the Hudsonville State bank, the Edwin Nash State bank at Clarksville, and the Otisville State bank were approved by the governor's advisory banking committee today.


Article Text

OTISVILLE BANK PLAN GETS STATE APPROVAL Lansing, Dec. 11.—(By AP)—Reorganization plans for the reopening of the Hudsonville State bank, the Edwin Nash State bank at Clarksville, and the Otisville State bank were approved by the governor's advisory banking committee today.