2077. First National Bank (Orlando, FL)

Bank Information

Episode Type
Run โ†’ Suspension โ†’ Unsure
Bank Type
national
Bank ID
10069
Charter Number
10069
Start Date
March 5, 1933
Location
Orlando, Florida (28.538, -81.379)

Metadata

Model
gpt-5-mini
Short Digest
36ea62a508ba2568

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Public signal of financial health, Full suspension

Receivership Details

Depositor recovery rate
30.0%
Date receivership started
1934-02-27
Date receivership terminated
1941-03-31
Share of assets assessed as good
59.6%
Share of assets assessed as doubtful
23.0%
Share of assets assessed as worthless
17.4%

Description

Articles (Mar 5 and Mar 16, 1933) describe heavy withdrawals/a run and then suspension of payments during the statewide bank holiday; by Mar 16 the First National remained suspended and was awaiting word to reopen from federal authorities. There is no clear statement in the provided texts that the bank had reopened, so I mark the outcome as unsure rather than confirmed reopening.

Events (4)

1. August 22, 1911 Chartered
Source
historical_nic
2. March 5, 1933 Run
Cause
Macro News
Cause Details
Part of the statewide banking panic/bank holiday and heavy withdrawals following declarations by state/federal authorities and national crisis; general runs on banks in Orlando.
Measures
Short moratorium/temporary suspension of payments mentioned; bank participated in moratorium only a few hours (state five-day holiday declared).
Newspaper Excerpt
stood with in the run two banks yesterday morning... Knots of people gathered the streets watch the flurry banks
Source
newspapers
3. March 5, 1933 Suspension
Cause
Government Action
Cause Details
Suspension occurred in the context of the statewide bank holiday/moratorium and awaiting federal/comptroller authorization to reopen.
Newspaper Excerpt
While business at the First National bank remained suspended until the federal license can be received
Source
newspapers
4. February 27, 1934 Receivership
Source
historical_nic

Newspaper Articles (2)

Article from The Orlando Sentinel, March 5, 1933

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Article Text

LITTLE EXCITEMENT Community Looks to Roosevelt for Solution Business men and women cerned only making their usual cash stood with in the run two banks yesterday morning. Both received the news that Gov Dave Sholtz had declared five-day holiday. Officials the First National Bank Florida Bank their moratorium only few hours. Although Pres. Willard Hamilton had opened with the intention of paying rapidly the swept along the crest of state after heavy that began Knots of people gathered the streets watch the flurry banks, there little excitement. Orlando, which several during the feverish days bursting, appeared turn the face of national crisis. LOOK TO CHIEF the the nation this looked Franklin Roosewhich inaugural address being even as Orlando runs, relief. There that President do before night," will put the banks under Thus lando voiced faith in the new Another finance center that conducted its ordinary Saturday postal savings partment Orlando postoffice. Laycock, nounced that deposit the ing exceeded withdrawals by This, in the face of condition which might well created heavy demand ready cash, the theory that suf fering the due the abruptly days. This particularly true the that the postal savings department marked steady increase the number accounts during past years. STAY CHEERFUL In addition to would-be depositbanks yesterday mornthere array sympathetic who were not the banks for any business but wanted clasp the hands the men they had done the possibly could for the depositors and the community. Bitterness such evidence during other bank crashes absent. Business men joked with each hasty plans taking their Ed Asher, San managtold on his hotel early in the morning when travelmen wanted checks they could get out of town. Hamer, power the Angebilt hotel, dollar bill which he said just happened have his when the bank holiday began. In the stores looked their customers and were credit to people they knew.


Article from The Orlando Sentinel, March 16, 1933

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Article Text

FLORIDA BANK Depositors Pour In Flood off Old Currency GOLD RECEIVED First National Is Awaiting Word To Reopen While business at the First National bank remained suspended until the federal license can be received, depositors the Florida Bank yesterday placed $100.000 old currency the bank. branch bank. the Florida among state banks opening terday under the per der Compt. The First National. tional bank, its permisfrom the comptroller of the United States currency. In the three days depositors the Florida Bank have shoved $160,000 over the counters, all in old currency. Officials the bank expressed the opinion the practice continued had gun there would be no necessity for the currency. DEPOSITS It was stated that had the Florida Bank Jacksonville Tuesday, showgeneral the of the people to put its money back in the banks. New accounts were in the spotlight with of old gold. Approximately $5,000 gold was ceived and on the ceding in gold was addto mounting deposits. Orlando generally took its bankquietly. Long lines forming at the Florida's windows were composed mainly of men and men who wanted to get rid of their W. O'Neal. president of the First National. had received assurance from the Atlanta banks that the currency would be rushed to Orlando. SOON have definite news Mr. O'Neal banks reopening Florida day are members chain organizations that are able to get the new currency from parent organizations in clearing house cities. The Florida bank's license to (Continued on page column 5)