Data / Bank failures / 1970 / The Peoples State Savings Bank
The Peoples State Savings Bank, Auburn, MI: failed April 18, 1970
The Peoples State Savings Bank in Auburn, Michigan, failed on April 18, 1970. It held $10.9 million in assets and $9.9 million in deposits at its last report. By assets it was the 2nd largest of 7 banks closed or assisted in 1970.
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The FDIC's record
- Closed
- April 18, 1970
- Type
- Failure
- How it was resolved
- Payout: the FDIC paid insured depositors directly
- Total assets
- $10,877,000
- Total deposits
- $9,940,000
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 14987
Other bank failures in Michigan, 1968 to 1972
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Bank of the Commonwealth (assistance) | Detroit | January 18, 1972 | $1.30 billion | |||
| Birmingham-Bloomfield Bank | Birmingham | February 16, 1971 | $109.7 million | $57.5 million | ||
| The Morrice State Bank | Morrice | May 6, 1969 | $2.3 million | $2.2 million |
All bank failures in 1970 · All bank failures in Michigan · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-24. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.