Third National Bank (Miami, FL)

View Charter #12887 on SPMC View balance sheet

Episode Information

Episode UID
1288701538
Episode Type
Run Only
Bank Type
national
Bank ID
128870 national
Charter Number
12887
Start Date
February 8, 1928
Location
Miami, Florida (25.774, -80.194)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
63701e4d5cc09d43

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Fed/other loan, Public signal of financial health, Books examined

Description

Multiple discrete runs (1928 and Dec 1930) are reported; no article indicates Third National suspended or closed.

Events (4)
1. February 18, 1926 Chartered
Source
historical_nic
2. February 8, 1928 Run
Cause
Rumor Or Misinformation
Cause Details
Unfounded anonymous letters and rumors warning depositors prompted heavy withdrawals from Miami banks, including Third National.
Random Run
Yes
Random Run Snippet
Anonymous letters warned depositors to withdraw funds; letters were unfounded
Measures
Bank reported having sufficient cash on hand and funds in transit to meet withdrawals; officials issued reassuring statements.
Newspaper Excerpt
Third National ... had withdraw at his institution by $400,000
Source
newspapers
3. December 22, 1930 Run
Cause
Local Banks
Cause Details
Failure/closure or failure to open of the City National Bank triggered runs on other Miami banks including Third National.
Measures
Issued public statements reassuring depositors.
Newspaper Excerpt
runs started on two of the largest of Miami's remaining banks-the First National and the Third National Bank. These institutions, however, issued statements reassuring the depositors.
Source
newspapers
4. August 19, 1931 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (7)
1. February 8, 1928 The Springfield Daily Republican Springfield, MA
Article from The Springfield Daily Republican, February 8, 1928

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Article Text

POISON NOTES BRING RUN ON MIAMI BANKS Miami, Fla., Feb. With cash coming in from the re. in district, Miami's major banking Institutions prepared last night meet possible rush that might develop as result of excite ment following the action of Ernest taking the affairs of three banks here today. Romfh, president of the First not closed but heavy run day expressed the ad ditional would not be needed, though may continue heavy for few days until pubconfidence is completely restored. Gilman, president the bank of Bay Biscayne. Miami's bank nu merous to unfounded rumors that excite ment, satisfied demand and hand and in transit sufficient continue to Clark Davis, president of the City National, the other member of Mia that had withdraw at his institution by $400,000 Third National and Morris Plan deposits for the day and the opinion prev alent that crisis had been passed Comptroller Amos took Bank and Trust company the E. had continued for several days. apparently prompted by circulation letters. Several these were mailed m., January according Mr Lummus, exhibited one "Quietly get your of Southern Band and money Trust company going HIfollowed by Masonic symbol. the source of these letters under way, but yet no dividual have been connected with There more people in tortured skini druggists. the United States now than 25 years but there are 22,000,000 fewer SYLPHO-DINE cattle, sheep and swine to promeat for them.

2. February 9, 1928 Passaic Daily Herald Passaic, NJ
Article from Passaic Daily Herald, February 9, 1928

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Article Text

HOW LOOSE TONGUES CAN DO UNTOLD DAMAGE THERE has been run on the Miami banks. One had suspended business, two others were closed temporarily, and fourth's suspension was averted by the receipt of funds by airplane messenger Tuesday. And all because some half-witted or malicious individual wrote number of anony mous letters. warning depositors to take their funds out of one of these banks. criminal in New Jersey to cause run on bank. A gossip, eaught his gossiping. and confronted by the damage be has caused, can held strict account. ing. good many years ago there was on one of and soundest of Pashappened this way: townsman, well known in his day for his ready wit, Dundee saloon on legal holiBank is closed. sign on the said his credulous auditors. Word apread. Word like that spreads like wildfire. By morning there throng at the barik doors, waiting for its opening. It took quick wit and to avert serious consequences. or course the bank had been closed the day before. It was legal holiday. That's why banks and bankers are very careful in all their public utterances. That's why newspapers are (or should be) fastidirualy careful in all that they print about banks. That's why bankers should be serupulously careful in all that they do with The public's in banks involved.

3. July 20, 1929 The Owensboro Messenger Owensboro, KY
Article from The Owensboro Messenger, July 20, 1929

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Article Text

Another Bank Closes Its Doors In Florida Reports of the closing the state Bank Pablo Jacksonville Beach reached the state banking today. Comptroller Ernest Amos said the bank liquid condition. but closprecaution when The bank Palbo the teenth bank which closed Florida this week and the Twenwithin weeks. Four others closed May and their president, John Fouts, Bartow, awaiting trial charge illegally lending himself funds. reassuring tion has from Washington dicating that lessening the fruit fly under consideration and that President Hoover plans recommend reimbursement for growers whose crops have been destroyed. This, together with growing public confidence, combined stop the runs Floridaa banks, the comptroller indicated.

4. June 12, 1930 The Washington Times Washington, DC
Article from The Washington Times, June 12, 1930

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Article Text

-International Photo RUTH BROWN h. The Abbotts, of Boston, Brown of Newcastle were resBrowne and Sarah Poynton shington. The death list is were injured, some seriously. RUNS ON BANKS LETTING UP MIAMI, Fla., June 12 (I.N.S.). Announcement that another $2,000,000 was en route here today by airplane, consigned to all the solvent banks in Miami, apparently tended to relieve the financial crisis which developed here yesterday following the closing of the bank of Biscayne Bay and three subsidiaries. The $2,000,000 being brought by plane from the Fedaral Reserve Bank in Atlanta, will supplement $2,000,000 in currency sent yesterday from the Jacksonville branch. Another $4,000,000 was reported en route here by mail from the Fereral Reserve Bank. The large number of depositors who continued to withdraw their money from the solvent banks here this morning were orderly and apparently not so numerous as the crowds which withdrew funds yesterday.

5. June 12, 1930 The Brooklyn Daily Times Brooklyn, NY
Article from The Brooklyn Daily Times, June 12, 1930

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Article Text

5 FLORIDA BANKS TO PAY DEPOSITORS $2,000,000 Arriving by Plane Allays Uneasiness. Miami, Fla., June 12.-The arrival of $2,000,000 in cash by airplane and several reassuring statements by State banking officers helped today to allay the uneasiness of depositors who had funds in five banks which closed here yesterday. One of the banking officials insisted the situation was not acute, and declared that the conditions which led to the closures would have adjusted themselves if there had not been unfavorable "talk," some of it by bankers themselves. The banks which closed were the Bank of Bay Biscayne, with resources of 182,292: the Biscayne Trust Company, with 1,962,148: the Miami Beach Bank and Trust Company, with $2,593,281: the Bank of Coral Gables, with $743.759. and the the Bank of Homestead. Local bankers said they were confident normalcy would be restored promptly when the public understood the cause of the heavy run made on the institutions. They had the assurance of additional aid from the Federal Reserve if it were needed, they said.

6. June 13, 1930 The Morning Press Santa Barbara, CA
Article from The Morning Press, June 13, 1930

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Article Text

$8,000,000 in Cash Stems Heavy Runs on Banks in Miami Miami area bankers tonight believed they seen the end of the financial flurry caused yesterday by the closing of the Bank Bay Biscayne and its three subsidiaries. The subsidlaries are the Biscayne Trust company, the Miami Beach Bank and Trust company and the Bank of Coral Gables. Arrival here yesterday and this morning of $8,000,000 in cash from Jacksonville and Atlanta was believed to have stemmed the tide of anxious depositors who formed in line at the city's larger banks yesterday to withdraw their accounts. Only the First National bank reported continued withdrawals today.

7. December 22, 1930 The Washington Times Washington, DC
Article from The Washington Times, December 22, 1930

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Article Text

Depositors Throng Closed Miami Bank MIAMI, Fla., Dec. 22 (I.N.S.). Hundreds of depositors crowded about the City National Bank today following its failure to open for business at 9 o'clock this morning. The bank, of which J. C. Penney, chain-store magnate and philanthropist, is chairman of the board of directors, had deposits of $15,000,000, according to its periodical statement. Meanwhile, runs started on two of the largest of Miami's remaining banks-the First National and the Third National Bank. These institutions, however, issued statements reassuring the depositors.