First National Bank of Deland

Bank Information

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

Metadata

Model: gpt-5-mini
Short Digest: 8fecc9a4

Response Measures

None

Description

Article states the First National Bank of Deland was closed July 11, 1929 and a receiver (M. G. McNair) was appointed. A later 1932 suit by the receiver alleges unsound loans and depletion of capital. No contemporaneous run is described in the article.

Events (3)

1. July 11, 1929 Receivership

Newspaper Excerpt: M. G. McNair, receiver for the First National Bank of Deland, Fla., which was closed July 11, 1929... (receiver later sues J. Fred McGuire).
Source: newspapers

2. July 11, 1929 Suspension

Cause: Government Action
Cause Details: Bank was closed July 11, 1929 and placed in receivership; liabilities reported $1,487,996.81.
Newspaper Excerpt: the First National Bank of Deland, Fla., which was closed July 11, 1929, with liabilities of $1,487,996.81.
Source: newspapers

3. August 4, 1932 Other

Newspaper Excerpt: A suit demanding an accounting was filed ... by M. G. McNair, receiver for the First National Bank of Deland, Fla., which was closed July 11, 1929. The suit charges violation of the national banking laws, unsound loans and depletion of the bank's capital through payment of dividends.
Source: newspapers

Newspaper Articles (1)

1. August 4, 1932 Evening Star Washington, DC

Article from Evening Star, August 4, 1932

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Article Text

BANK RECEIVER SUES Accounting Demanded of J. Fred McGuire, Chicago Realtor. CHICAGO, August 4 (AP).-A suit demanding an accounting was filed in United States District Court yesterday against J. Fred McGuire, Chicago realtor by M. G. McNair, receiver for the First National Bank of Deland, Fla.. which was closed July 11, 1929, with liabilities of $1,487,996.81. The suit charges violation of the national bank:ing laws, unsound loans and depletion of the bank's capital through payment of dividends.