First National Bank - Eagle Lake, TX

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 7534
Charter Number: 7534
Start Date: November 10, 1907
Location: Eagle Lake, Texas (29.590, -96.334)

Metadata

Model: gpt-5-mini
Short Digest: 462d9b6c

Response Measures

None

Description

Article (dated 1907-11-11) reports First National Bank of Eagle Lake failed to open for business Saturday morning (Nov. 10) and suspend business temporarily due to stringency in financial centers. No runs or receivership mentioned; described as a temporary suspension, so categorized as suspension_reopening.

Events (2)

1. December 30, 1904 Chartered

Source: historical_nic

2. November 10, 1907 Suspension

Cause: Macro News
Cause Details: Stringency of money matters in financial centers (tight money/financial stringency) leading directors to suspend business temporarily
Newspaper Excerpt: The First National Bank failed to open for business Saturday morning. The cause is said to be due to the stringency of money matters in the financial centers, the board of directors of the institution deeming it to be to the best interest of the depositors that the bank suspend business temporarily.
Source: newspapers

Newspaper Articles (1)

1. November 11, 1907 Palestine Daily Herald Palestine, TX

Article from Palestine Daily Herald, November 11, 1907

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Article Text

EAGLE LAKE BANK SUSPENDS. First National Closed Its Doors-Second Bank to Close. Eagle Lake, Texas, Nov. 10.-The First National Bank failed to open for business Saturday morning. The cause is said to be due to the stringency of money matters in the financial centers, the board of directors of the institution deeming it to be to the best interest of the depositors that the bank suspend business temporarily. No statement has been given out, and will likely not be until the bank examiner arrives. The Vineyard, Walker & Co. Bank filed a voluntary petition in bankruptcy Friday. This leaves Eagle Lake with only one bank still doing business, the Eagle Lake State Bank.