2319. First National Bank of De Land (DeLand, FL)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Start Date
July 11, 1929
Location
DeLand, Florida (29.028, -81.303)

Metadata

Model
gpt-5-mini
Short Digest
d286b1c8

Response Measures

Full suspension

Description

Contemporary accounts (dated July 12, 1929) report the First National Bank of De Land shut its doors during the morning after a heavy run precipitated by the closing of the Volusia County Bank. The bank closed (was turned over to state banking authorities) and is described as among institutions undergoing reorganization/liquidation, so the run led to a suspension/closure rather than a reopening.

Events (2)
1. July 11, 1929 Run
Cause
Local Banks
Cause Details
Heavy withdrawals triggered by the closing of the Volusia County Bank in the same city/area.
Measures
Bank shut its doors during the morning; later turned over to state banking authorities (closure).
Newspaper Excerpt
the First National Bank of De Land, which shut its doors during the morning after a heavy run precipitated by the closing of the Volusia County Bank.
Source
newspapers
2. July 11, 1929 Suspension
Cause
Local Banks
Cause Details
Suspension/closing followed the heavy run precipitated by the Volusia County Bank's failure/closing.
Newspaper Excerpt
The First National Bank of De Land ... shut its doors during the morning after a heavy run ... that institution has business and is now in the hands of the state banking
Source
newspapers

Newspaper Articles (9)
1. July 12, 1929 Springfield Evening Union Springfield, MA
Article from Springfield Evening Union, July 12, 1929

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Article Text

HEAD OF FOUR FLORIDA BANKS FACES CHARGES Three Other Institutions in Process of Reorganization or Liquidation: Irregularities Charged. JACKSONVILLE. Fla., July 12(AP) While state and Federal officers began reorganization or liquidation for three Florida banks today. the prestof four other Central Florida dent banking institutions faced charges of violation of the state banking laws. Two of the banks that closed yesterday were in De Land, the only banks in that city. They were the Volusia County Bank and Trust Company and the First National Bank of De Land. which shut its doors during the morning after a heavy run precipitated by the closing of the Volusta County Bank. The third Institution was the Colonon? Bank and Trust Company of Miami John L. Fouts, who made bond of $10,000 after his arrest on an information filed by State Solicitor Har. din Peterson of Polk County, president and director of the State Bank of Bartow, the First National Bank of Lakeland. the First National Bank Auburndale. and the State Bank Winter Information filed against Fouts in three counts charged he had "loaned" himself $5000 from the funds of the State Bank of Bartow without consent of the board of directors. that he had altered the minutes of the board and make the loan appear that he had taken the money when resources of the institution were not up The banks he to legal headed closed May The Colonial Bank and Trust Company was capitalized at $100,000. with surplus of $50,000. It had been ganized for three years, and attributed 118 closing to steady withdrawals cash during the four days. J. Carpenter president County Bank and Trust The Volusia Company had resources of $2,816.188.12: deposits of capital stock of $200,000 surplus and discounts of The First National Bank De Land had resources of capital stock of surplus of and deposits of $1,211,750.47.

2. July 12, 1929 Finger Lakes Times Geneva, NY
Article from Finger Lakes Times, July 12, 1929

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Article Text

Three Florida Banks Close, Banker Arrested Jacksonville, Fla., July While state and federal officers began liquidation for three Florida banks today, the of four other central Florida faced charges of violating of the state banking Two the banks that closed yesterday were the onbanks that city They were Volusia County Bank and Trust Company and the First National Bank of De Land, which shut doors during the morning after precipitated closing of the VolusiaCounThe third institution the was Colonial Bank and Trust Company Miami John Fouts, bond of $10,000 after his arrest on information filed by Solicitor Hardin Peterson of Polk counpresident director the State Bank of Bartow, the First Bank of Lakeland, the First National Bank of Auand the State Bank Winter Information filed against Fouts three counties charged he had "loaned" himself $5,000 from the funds State Bank of tow without consent the of directors, that tered the minutes of the board to make the loan appear regular, and that he had taken the money when resources of the institution were not legal The banks he headed closed May The Colonial Bank and Trust Company was capitalized 000 with surplus $50,000 had been organized for attributed its closing to dy withdrawals of cash during the last four days. Carpenter president.

3. July 12, 1929 Wilkes-Barre Times Leader Wilkes-Barre, PA
Article from Wilkes-Barre Times Leader, July 12, 1929

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Article Text

BANKERS HAVE A BAD DAY IN FLOWER STATE Salvaging of Three Institutions Begins As New Bank Scandal Breaks While State and Federal officers began reorganization or liquidation for three Florida banks today, the president of four other Central Florida banking institutions faced charges of violating of the State banking laws. Two of the banks th taclosed yesterday were in De Land, the only banks in that city. They were the Volusa County Bank and Trust Company and the First National Bank of De Land, which shut its doors during the morning after heavy run precipitated by the closing of the Volusia County Bank. The third institution was the Colonial Bank and Trust Company of Miami. John L Fouts, who made bond of $10,000 after his arrest on an information filed by State Solicitor Hardin of Polk County, was president and director the State Bank of Bartow, the First National Bank of Lakeland, the First National Bank of Auburndale, and the State Bank of Winter Haven.

4. July 12, 1929 The News Journal Wilmington, DE
Article from The News Journal, July 12, 1929

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Article Text

3 BANKS CLOSED IN CENTRAL FLORIDA; OFFICIAL ACCUSED Move to Reorganize or Liquidate Institutions; Arrest Made. INFORMATION FILED (By The Associated Press.) JACKSONVILLE Fla., July 12.While State and Federal officials be. gan reorganization or liquidation for three Florida banks today, the president of four other central Florida Lanking institutions faced charges of violation of the State banking laws Two of the banks that closed yesterday were in that city. They were the Volusia County Bank and Trust Company and the First National Bank of De Land. which shut its doors during the morning after a heavy run precipitated by the closing of the Volusia County Bank. The third institution was the Colonial Bank and Trust Company of Miami. John L. Fouts who made bond of $10,000 after his arrest on an information filed by State Solicitor Hardin Peterson of Polk county, was president and director of the State Bank of Bartow, the first National Bank of Lakeland, the First National Bank of Auburndale and the State Bank of Winter Haven Information filed against Fouts in three counts charged he had "loaned" himself $5,000 from the funds of the State Bank of Bartow without consent of the board of directors, that he had altered the minutes of the board to make the loan appear regular, and that he had taken the money when resources of the institution were not to legal requirement. The banks he headed closed May 15. Time of arraignment for preliminary hearing was expected to be set in a few days.

5. July 12, 1929 New Britain Herald New Britain, CT
Article from New Britain Herald, July 12, 1929

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Article Text

FLORIDA BANKING UNDERGOES PROBE Three Institutions Close-President of Four Faces Charges Jacksonville. Fla., July 12 (AP) While state and federal officers began reorganization or liquidation for three Florida banks today, the president of four other central Florida banking institutions faced charges of violating the state banking laws. Two of the banks that closed yes lerday were in De Land, the only banks in that city. They were the Volusia County Bank and Trust Co., and the First National Bank of De Land, which shut its doors during the morning after a heavy run precipitated by the closing of the Volusia County bank. Miami Bank Closes The third institution was the CoIonial Bank and Trust company of Miami. John L. Fouts, who made bond of $10,000 after his arrest on an information filed by State Solicitor Hardin Peterson of Polk county, was president and director of the State bank of Bartow. the First National Bank of Lakeland, the First National bank of Auburndale, and the State Bank of Winter Haven. Information filed against Fouts in three counts charged he had "loaned" himself $5,000 from the funds of the State Bank of Bartow without consent of the board of directors, that he had altered the minutes of the board to make the loan appear regular, and that he had taken the money when sources of the institution were not up to legal requirement. The banks he headed closed May 15. Organized Three Years Ago The Colonial Bank and Trust company was capitalized at $100,000 with a surplus of $50,000. It had been organized for three years, and attributed its closing to steady withdrawals of cash during the last four days. J. V. Carpenter was president. The Volusia County Bank and Trust company had resources of $2.816,188.12; deposits of $1,840,043.19; capital stock of $200,000; surplus of $100,000. and discounts of $1,724,516.08. The First National Bank of De Land had resources of $1,789,372.81; capital stock of $100,000; surplus of $25,000 and deposits of $1,211,750.47.

6. July 12, 1929 Tampa Bay Times St. Petersburg, FL
Article from Tampa Bay Times, July 12, 1929

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Article Text

THREE FLORIDA BANKS CLOSED Bartow Banker Is Arrested on Charge of Making Illegal Loans July Three Florida banks in of bank pending or The First National bank of De Land closed its doors shortly before noon after heavy run the of the dow of the Bank and Trust company also of De that that institution "has business and is now in the bands of the state banking The banks at DeLand were two of the oldest financial Volusia county and both in depositories for city and county funds. The county bank had of deposits of 19: capital stock of surplus and loans and discounts of while the First National had of surplus $25,000 and deposits of 211 Closing of those two banks left without single financial The Colonial Bank and Trust of capitalized at surplus of failed today after of during the past (Continued on Page 2. Column 1)

7. July 12, 1929 New Britain Herald New Britain, CT
Article from New Britain Herald, July 12, 1929

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Article Text

FLORIDA BANKING UNDERGOES PROBE Three Institutions Close-President of Four Faces Charges Jacksonville. Fla., July 12 (P)While state and federal officers began reorganization or liquidation for three Florida banks today, the president of four other central Florida banking institutions faced charges of violating the state banking laws. Two of the banks that closed yes terday were in De Land, the only banks in that city. They were the Volusia County Bank and Trust Co., and the First National Bank of De Land. which shut its doors during the morning after heavy run precipitated by the closing of the VoluMiami Bank Closes The third institution was the Cojonial Bank and Trust company of Miami. John L. Fouts, who made bond of $10,000 after his arrest on an information filed by State Solicitor Hardin Peterson of Polk county. was president and director of the State bank of Bartow. the First National Bank of Lakeland, the First National bank of Auburndale. and the State Bank of Winter Haven. Information filed against Fouts in three counts charged he had "loaned" himself $5,000 from the funds of the State Bank of Bartow without consent of the board of directors. that he had altered the minutes of the board to make the loan appear regular. and that he had taken the money when sources of the institution were not up to legal requirement. The banks he headed closed May 15. Organized Three Years Ago The Colonial Bank and Trust pany was capitalized at $100,000 with surplus of $50,000. It had been organized for three years and attributed its closing to steady withdrawals of cash during the last four days. J. V. Carpenter was president. The Volusia County Bank and Trust company had resources of $2.capital stock of $200,000: surplus of $100,000. and discounts of $1,724.The First National Bank of De Land had resources of $1,789,972.81: capital stock of $100.000: surplus of $25,000 and deposits of $1,211,750.47.

8. July 12, 1929 The Buffalo News Buffalo, NY
Article from The Buffalo News, July 12, 1929

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Article Text

HEAD OF FARM BANKS IN FLORIDA ACCUSED July 12 While and federal officers began liquidation for three Florida banks today the president of central Florida stitutions faced charges of violating the state banking the that closed De Land banks They the Volusia County Bank and Trust company and the First National bank of De Land which shut doors during the morn heavy run by closing bank The Colonial Bank and Trust company of Miami

9. July 13, 1929 Record-Journal Meriden, CT
Article from Record-Journal, July 13, 1929

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Article Text

Officers Of Four Florida Banks Held Serious Charges July While state and federal officers began reorganization liquidation for three Florida banks today. the president of four other Central Florida banking institutions faced charges of violating of the state Two of the banks that closed were De Land. the only banks that They were the Volusia County Bank Trust the First National which shut its doors during the after precipitated by the ing the Volusia County bank. The third was the Trust Fouts, who after his rest information filed by State Solicitor Hardin of Polk county. was president and rector state bank Bartow, the First National bank of Lakeland. the First bank of Auburndale, and the State bank Haven. Information filed against Fouts in three counts charged he had "loaned" himself $5,000 from the funds the State Bank of Bartow without consent of the board of he had altered the minutes the board to make the loan appear regular, and that he had taken the money when sources of the not to legal The banks he headed 15. The Colonial Bank and Trust company capitalized $100.000 with surplus of It organized for three years, and attributed its closing steady withdrawals cash during the last Carpenter was The Volusia County Bank and Trust company resources deposits of capital stock of $200,000: surplus of and discounts $1,724,516.08 The First National bank of De Land had resources $1,789.972.81: capital stock surplus and deposits of $1,211,750.47.