Coral Gables First National Bank

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 13008
Charter Number: 13008
Start Date: December 22, 1930
Location: Coral Gables, Florida (25.721, -80.268)

Metadata

Model: gpt-5-mini
Short Digest: 4c9fba84715707a4

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

OCR corrected minor errors (e.g., 'Halt dozen' -> 'Half dozen'). Article (The Miami News, 1930-12-22) describes a small number of depositors making withdrawals when the bank opened but the bank remained open and able to meet demands. The article also mentions other bank closings elsewhere, which likely caused local nervousness, but no suspension or closure of this bank is reported.

Events (2)

1. November 19, 1926 Chartered

Source: historical_nic

2. December 22, 1930 Run

Cause: Local Banks
Cause Details: Article mentions other banks' closings and banking troubles elsewhere, creating nervousness and some withdrawals at the Coral Gables bank.
Measures: Bank remained open; statement that they were prepared to take care of any emergency and would be open until 2 p.m.
Newspaper Excerpt: Half dozen depositors were asking for their money when the bank opened... we are prepared to take care of any emergency.
Source: newspapers

Newspaper Articles (1)

1. December 22, 1930 The Miami News Miami, FL

Article from The Miami News, December 22, 1930

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Article Text

MIAMIS "ALL-AMERICAN" ASPIRANTS LINE UP AT FROLICS BENEFIT tional bank of Coral Gables: "Halt dozen depositors were asking for their money when the bank opened. but we are prepared to take care of any emergency Landon E. Edwards. president of the Little River Bank & Trust Co. Deposits this morning were equal to withdrawals. We will be open until 2 p. m. today and anticipated few withdrawals, all of which we will be able to take care W. T. Price, president Florida Ex change bank: "We have no run and are in perfect condition." R. N. Humphries, vice president Coconut Grove Bank & Trust Co. "Everything is quiet here and we are ready for any emergency.' The bank's last statement, as of Sept. 24, listed total resources at $7,209,234. including $829,280 in cash and $1,833,308 in marketable stocks and bonds. Federal Reserve bank stock was listed at $30,000. and government bonds at $1,037,529.23. Loans and discounts amounted to $4,427,280.44. Deposits were listed at $5,862. 662.27. with capital and surplus mak ing up another $1,000,000 of liabil ities. Smaller Atlanta Bank Is Closed ATLANTA. Dec. (P) A. B. Mobley. state superintendent of banks. announced today that his department had taken over the affairs of the City Bank & Trust Co., one of the city's said the dépositors would be paid in smaller financial institutions. full. At the last call on Sept. 24 the The bank. established about a year bank reported resources of $281,593 ago. was capitalized at $50,000 with with capital of $167,000. surplus of resources $129,833.40 and a surplus $8,289.27 bills payable $28,665, and of $12,500. deposits $76,852.98 Mobley said officers of the bank Two Mississippi reported to him heavy withdrawals in the last few days had depleted Banks Are Cliosed their cash. The bank was not member of the Atlanta clearing house association. nor of the federal reserve system. Closing of two additional banks was reported to the state banking depart ment this morning. Saturday. The bank officers. he were taking "protective steps' rather than risk runs on the institutions. The Citizens Bank & Trust Co. is capitalized at $150,000. with surplus and undivided profits of $60,000. Its deposits were estimated by banking department records at $1,300,000. The Bolivar County bank. capital ized at $25,000 with ssurplus and un divided profits of $30,000. carried de posits of $250,000. the department said. Buy Christmas Seals