2070. Bank of Orange & Trust Company (Orlando, FL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust
Start Date
May 23, 1927
Location
Orlando, Florida (28.538, -81.379)

Metadata

Model
gpt-5-mini
Short Digest
986f6fe0b5563a8e

Response Measures

None

Description

Articles show the Bank of Orange & Trust Co. reopened May 23, 1927 (Article 1) but later failed and its assets/liabilities were taken over by the Orlando Commercial Bank (Article 2). There is no mention of a depositor run triggering the failure—rather the bank ultimately closed and its creditors received a dividend after liquidation—so this is best classified as a suspension/closure (permanent failure) with no documented run. Exact failure/suspension date for Bank of Orange & Trust Co. is not given in the provided texts; Article 2 only states it 'had previously failed' before the Orlando Commercial Bank's 1929 events.

Events (2)
1. May 23, 1927 Reopening
Newspaper Excerpt
Reopening of the Bank of Orange Trust and the American Bank ... Bank Orange and Trust company. Orlando, May 23. 1927
Source
newspapers
2. * Receivership
Newspaper Excerpt
affairs of the Orlando Commercial Bank were co-mingled with those of the Bank of Orange Trust Co., which had previously failed and the assets and liabilities of which were taken over by the Orlando Commercial Bank. Creditors of the Bank of Orange & Trust Co. received 75% of their claims against that institution, and the remaining 25% remained in and was an obligation of the Orlando Commercial Bank.
Source
newspapers

Newspaper Articles (2)
1. June 1, 1927 The Palm Beach Post West Palm Beach, FL
Article from The Palm Beach Post, June 1, 1927

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Article Text

FIRST AMERICAN HERE ADDS GRATIFICATION Twenty-five Banks Closed In State Are Reopened In Last Nine Months BANK OPENS May thority has been granted the People's Bank, St. Cloud to reopen was announced today the state banking department. The bank pended operations sometime ago. By the Associated Press May by the state banking the rapid succession of bank reopenings taking Reopening of the Bank of Orange Trust and the American Bank and of West Palm the latest of the institutions announce resumption of business satisfaction here by the department officials. The was declared. has due largely operative efforts extended among banking department officials and heads the institutions, and excellent prevailing among the public Particularly the latter, such progress could not be accomplished, was stated. Since banks had have reopened. according to revised list compiled by banking department heads. Two other institutions and later closed Following list of the reopened banks of the state, their location. and the date their repoening: Citizens Bank of Bushnell, Bushnell, Feb. 1927 Delray Bank and Bank and St. Oct. Bank County Sept. 14. Bank Dade City, Dade City, Palatka Bank and Trust company, Palatka, Bank GroveDec. Bank of Umatilla, Umatilla, 1926: First State Bank Clermont, ClerSept 28, 1926 Citizens Bank Eustis, Oct. 1926: Bank Mount Dora, Mount Dora, Sept. 1926: Bank of Aug. 24, 1926 Bank of OakOct. Bank of Live Oak. Live Oak, Sept. Bank Sept. 13, 1926 Lake Butler, Dec. Bank of Monticello, 14, 1926: Polk County Trust Lakeland. 28, State Bank. Lake 1926: East Florida Stuart Bank and Trust company. Stuart, Oct. 1926: People's Bank Sept 1926: Palmetto State Bank. Palmetto, May 19. 1927: Bank Orange and Trust company. Orlando, May 23. 1927, and First American Bank and Trust company. West Palm Beach, May

2. August 29, 1932 Orlando Evening Star Orlando, FL
Article from Orlando Evening Star, August 29, 1932

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Article Text

Commercial Pays to 1,541 Depositors Tunnicliffe, County Commissioners and Dickinson Make it Possible PAID IN SUMMER Liquidator Expects to Pay More Money To Depositors Within Six Months Tunnicliffe, liquidator of the Orlando Commercial Bank, announces that under authority of State Comptroller Ernest Amos, dividend has been declared payable to all creditors of that closed institution. Checks to the amount of 1541 $24,498.88 have been received from Tallahassee by the liquidator will be ready for distribution to those holding liquidator's certificates at the office of the liquidator in the building Tuesday, Aug. 30, at m. The liquidator states that liquidator's certificates must be presented for proper endorsement before dividend checks can be delivered. The Orlando Commercial Bank suspended business on May 13, 1929. and subsequently was placed in the hands of Jackson as receiver. On June 10, 1930. W. H. Tunnicliffe took over the liquidation in conjunction with other oanks being handled by him in this territory. Inasmuch as affairs of the Orlando Commercial Bank were co-mingled with those of the Bank of Orange Trust Co., which had previously failed and the assets and liabilities of which were taken over by the Orlando Commercial Bank, it brought about many complications. Creditors of the Bank of Orange & Trust Co. received 75% of their claims against that institution, and the remain25% remained in and was an obligation of the Orlando Commercial Bank. This is the first dividend to be distributed to creditors of the Orlando Commercial Bank, and in commenting on the matter today, Mr. Tunnicliffe stated that this distribution was made possible largely through efforts of Orange-co. commissioners, had co-operated with him by taking over securities held to protect county deposits, thus making available such cash assets as he was able to obtain for distribution to depositors of the institution. Mr. Tunnicliffe stated that the commissioners had been wonderfully helpful to him, also was Dickinson. the liquidator's attorney, who assured the liquidator that his fees for services would be donated to the depositors by him rather than have interfere with the dividend distribution. Mr. Tunnicliffe also donated for services formed by him, amounting to in order to the fund and enable dividend distribution to be made. Mr. Tunnicliffe stated matters were in progress in the which he hoped would enable him to pay another dividend within six Orlando is fortunate this mid-summer. in having approximately $82,000 in cold cash out to closed bank creditors in this community. During the month of August the liquidator distributed $37,200.95 to the creditors of the Orlando Bank Trust $20,095.62 to the preferred creditors of the State Bank of Orlando Trust Co., and in the dividend declared out of the just Orlando Commercial Bank.