First National Bank - Fort Myers, FL

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 9035
Charter Number: 9035
Start Date: June 8, 1934
Location: Fort Myers, Florida (26.641, -81.872)

Metadata

Model: gpt-5-mini
Short Digest: 681c6a89

Response Measures

None

Description

Article (News-Press 1934-06-08) describes the reorganized First National Bank of Fort Myers under a national bank receiver and states reopening is contingent on posting $75,000 cash required by the comptroller before transfer of government funds. There is no mention of a depositor run; this is a suspension (reorganization) with intended reopening.

Events (4)

1. February 18, 1908 Chartered

Source: historical_nic

2. June 8, 1934 Reopening

Newspaper Excerpt: Only Putting $75,000 up Cash Deposit Remains As Forerunner to Bank Opening ... The comptroller requires that $75,000 cash ... must posted ... before certificate can issued preliminary to the transfer government funds to First National.
Source: newspapers

3. August 11, 1934 Voluntary Liquidation

Source: historical_nic

4. * Suspension

Cause: Government Action
Cause Details: Reorganization under a national bank receiver; approval of officers by the comptroller and requirement to post $75,000 before transfer of government funds for reopening
Newspaper Excerpt: the reorganized First National bank of Fort Myers reported ... Harry Fagan, national bank receiver ... approval of officers ... only the hitch reference depositing the with which the bank will be reopened remained
Source: newspapers

Newspaper Articles (1)

1. June 8, 1934 News-Press Fort Myers, FL

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Article Text

National Only Putting $75,000 up Cash Deposit Remains As Forerunner to Bank Opening Difficulties over government proval of officers the reorganized First National bank of Fort Myers reported have straightened out with the election Harry Fagan, national bank receiver, cashier in place Carter, an agent of the Reconstruction Finance corporation. Approval of Mr. Fagan by the national comptroller of the currency the tederal reserve authorities this district was forecast by treasury officials Washington yesterday. At the comptroller's said that no further expected approving the list officers, which also cludes Frank Alderman George Kingston as vice and Gordon, assistant cashier. Mr. Fagan, with the ernment's force of bank receivers Florida, the third choice for cashier. In the original list Charles Galloway was named cashier. Later Mr. Carter substituted. was formerly with banks Haven and Lake Alfred. Hitch Over Funds With the personnel difficulties nearing adjustment only the hitch reference depositing the with which the bank will be reopened remained be taken care The comptroller requires that $75,000 cash, representing $50.common stock and $25,000 surplus, must posted with member bank of the federal before certificate can issued preliminary to the transfer government funds to First National. explained the comptroller's office that this usually through an but two ago Mr. Alderman other arrangements had been (Continued Page Two)