First National Bank - Dothan, AL

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 5249
Charter Number: 5249
Start Date: March 1, 1933
Location: Dothan, Alabama (31.223, -85.390)

Metadata

Model: gpt-5-mini
Short Digest: 3bff0972

Response Measures

None

Description

Alabama statewide banking holiday (Governor Miller) caused Dothan banks, including First National Bank (president Malone), to close on March 1, 1933; state banking department authorized reopening March 2 with restricted withdrawals (percent unspecified due to OCR). No run is described in the article.

Events (3)

1. January 29, 1900 Chartered

Source: historical_nic

2. March 1, 1933 Suspension

Cause: Government Action
Cause Details: Statewide 10-day banking holiday proclaimed by Governor Miller; banks in Dothan closed under the proclamation
Newspaper Excerpt: Dothan banks which remained closed today in accordance with Governor Miller's proclamation
Source: newspapers

3. March 2, 1933 Reopening

Newspaper Excerpt: authorized today by the state banking department to reopen tomorrow with drawals restricted to per cent. until the holiday ends. Malone, president of the First National bank ... stated ... their institutions would open tomorrow, with restricted withdrawals.
Source: newspapers

Newspaper Articles (1)

1. March 2, 1933 The Dothan Eagle Dothan, AL

Article from The Dothan Eagle, March 2, 1933

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Article Text

Withdrawals Of Deposits Have A Limit Per Cent. Public Utilities, Telephone Companies Cannot Cut Off Service While Banking Holiday Order Is In Force MONTGOMERY, March Alabama Public Service commission today ordered all public utilities and ephone companies to suspend rules governing cutting off serv fee for non-payment, forfeiture of discount for failure to pay within prescribed period during the banking holiday. The emergency order sued with the statement: the opinion of this commission that the existing emergency condition warrants the suspension of rules during such banking moratorium'. Meanwhile, the per cent. withdrawal restriction was said to apply to all types of demands, including payrolls. In other words, no depositor will be permitted withdraw more than per cent. of his total deposit at the close banking business yesterday during any time of the holiday. The legislature approved the governor's holiday proclamation by adopting joint resolution concurring with the governor's action. The resolution, introduced in the senate, was rushed across to the house and adopted unanimously It also moved to grant extraordinary powers to the superintendent of banks and the banking board when both the Rish and Teasley bills delegating such powers were reported favorably. Rish said the would placed for final passage The house passed the Riddle bill to erable county boards of educaticn to pledge school fund receipts for collateral on loans to meet the teachers' salaries through 1935. Enough Money Will Be Available Gor Conducting of Ordinary Business Affairs, Say: Banking Department Dothan banks which remained closed today in accordance with Governor Miller's proclamation, announced that they would reopen tomorrow on the basis outlined by the state banking department. Malone, president of the First National bank, and Flowers, vice-president of the Dothan Bank Trust had Intended to cooperate with the governor's 10-day holiday and remain closed but stated today that their institutions would open tomorrow, with restricted withdrawals. There was no excitement In Dothan this morning, with busIness going on about as usual. MONTGOMERY, March (AP) Alabama banks, closed yesterday under Governor Miller's 10-day holiday proclamation, were authorized today by the state banking department to reopen tomorrow with drawals restricted to per cent. until the holiday ends. The per cent. withdrawals are limited to payrolls and necessary living expenses such Insurance premiums, tax payments, drafts with bills of Ind. ing attached and other purpos necessary to conduct bust Under the board's ruling deposits will be segregated and made subject to full withdraw als trust deposits, The holiday is not mandatoand banks in some localities remained open. H. H. Montgomery, superinten dent of banks, said the features of the board's order would be Into bill now before the legislature giving him power to extend the order beyond the 10-day period if conditions demand. Montgomery said he received reports that Mobile, Selma, one bank at Citronelle and Baldwin county banks were remaining open. Merchants Montgomery and Birmingham were doing business as usual, accepting checks in full or for majority payment of chases. California, Oklahoma, Louisiana and Mississippi entered upon bank. ing holiday. brings to the number of states where the limitation of withdrawals exists