1999. Bank of Lake Worth (Lake Worth, FL)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
state
Start Date
March 14, 1927
Location
Lake Worth, Florida (26.620, -80.059)

Metadata

Model
gpt-5-mini
Short Digest
65ddc2f6d21f19fe

Response Measures

None

Description

Articles (Mar 14, 1927) report the Bank of Lake Worth did not open its doors following recent local bank failures in Palm Beach County. No reopening or receivership for Lake Worth is mentioned; contemporaneous report notes a state examiner took charge of Delray bank. Cause appears to be contagion from other local bank closures rather than an isolated run.

Events (1)

1. March 14, 1927 Suspension
Cause
Local Banks
Cause Details
Closing of two local banks and a Palm Beach bank precipitated the Bank of Lake Worth's failure to open; contagion from nearby bank closures.
Newspaper Excerpt
Bank of Lake Worth and the Ocean City Bank of Delray did not [open] morning. ... closing Lake Worth left that city without banks
Source
newspapers

Newspaper Articles (2)

Article from The Austin Daily Herald, March 14, 1927

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Article Text

FAIL Fourth Institution Battle to Stave Off Ruin in Florida [By Associated Press] West Palm Beach, Fla., March Palm Beach county failed to open their doors today while another local financial institution sought to stave off severe run. The Farmers' Bank and Trust Company of West Palm Beach one of the largest banks in this section did not open today following night announcement by Reese, its president. that the closing of two local banks and Palm Beach bank last Tuesday had precipitated the action. Bank of Lake Worth and the Ocean City Bark of Delray did not morning. No reasons for their action were made separate public. state bank examiner assumed charge of the Delray institution. closing Lake Worth left that city without banks The Delray bank capitalized with deposits aggregating and the Lake Worth Bank had and their statement published July 1926. long men and women braved pelting intermittent there this morning in determined run on the Citizens' Bank Palm Beach.


Article from Nashville Banner, March 14, 1927

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Article Text

THREE OF FLORIDA'S BANKS CLOSE DOORS Delray, Lakeworth and West Palm Beach the Points Affected to Its & of ness this city and funds and of one had throng in the "Generally Good.' the national national in