Citizens Bank - Homestead, FL

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: state
Start Date: July 3, 1926
Location: Homestead, Florida (25.467, -80.446)

Metadata

Model: gpt-5-mini
Short Digest: 29ae4a40

Response Measures

Full suspension

Description

Multiple contemporaneous newspaper reports (dated 1926-07-03/04) state heavy withdrawals forced the Citizens Bank of Homestead to close its doors pending settlement and that officers expected to reopen Tuesday. No receivership or permanent closure is mentioned. The run appears linked to distress/closures of nearby Florida banks (contemporaneous local banking troubles), so cause is classified as local_banks.

Events (2)

1. July 3, 1926 Run

Cause: Local Banks
Cause Details: Heavy withdrawals by depositors triggered by contemporaneous runs/closures at nearby Florida banks (reports mention Bank of Dania, Bank of Hollywood and others).
Measures: Closed doors pending settlement; officers announced expectation to reopen on Tuesday.
Newspaper Excerpt: Heavy withdrawals by depositors in the Citizens Bank of Homestead caused the institution to close its doors today
Source: newspapers

2. July 3, 1926 Suspension

Cause: Local Banks
Cause Details: Bank suspended operations after heavy withdrawals by depositors, in context of other local bank troubles; suspension described as temporary (pending settlement).
Newspaper Excerpt: the institution to close its doors today pending settlement. Officers of the bank said they expected to reopen Tuesday.
Source: newspapers

Newspaper Articles (5)

1. July 3, 1926 Washington Daily News Washington, NC

Article from Washington Daily News, July 3, 1926

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Article Text

BANKS FAIL its doors for business today following an order issued by the board of directors. -Heavy withdrawals by depositors of the Citizens Bank of Homestead caused the insttiution to close its doors today pending settlement. Officers of the bank said they expected to reopen Tuesday. The Bank of Dania, a short distance from Miami, suffered a similar withdrawal of funds and ceased operations shortly before noon. At the same time the Bank of Hollywood, also a short distance north of this city, withstood brief run. The Bank Buena Vista and the Bank of Cocoanut Grove, allied institutions, made the following separate announcements: "The bank has decided to suspend operations for the present and will therefore, not open for business today. It is actuated in this cause by desire to conserve its resources and to protect its depositors to the fullest extent. Local citizens now are working on a plan and will announce the details in few days to organize a local controlled institution for speedy liquidation and to relieve the situation."

2. July 3, 1926 Sun-Journal Lewiston, ME

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Article Text

ANOTHER FLORIDA BANK IS CLOSED FORT Florida July City Bank failed open doors for today following order issued by the board of directors placing bank in the hands the State Bank partment. The two other banks in the city opened usual deposthat there was cause for alarm. RUN ON HOMESTEAD BANK HOMESTEAD, July Heavy withdrawals depositors in Citizen's Bank of Homestead caused institution to close its doors today pending Officers they expected reopen Tuesday.

3. July 3, 1926 The Waco Times-Herald Waco, TX

Article from The Waco Times-Herald, July 3, 1926

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Article Text

WITHDRAWALS BY DEPOSITORS FORCE FINISH Run on Bank Closes One And State Department Closes Another FORT LAUDERDALE Fla., July 3. City bank failed to open its doors for this morning following an order issued by the board directors placing the bank in the hands of the state bank de. partment The two other banks in the city opened usual and deposi tors assured that there was no cause for alarm. Homestead Bank Closed HOMESTEAD July Heavy withdrawals by depositors in the Citizens' bank of Homestead caused the institution to close its doors to day pending settlement. Officers of the bank said they expected to reopen Tuesday. Nebraska Bank to Be Closed PAPILLION Neb., July The State Bank of with deposits of $325,000 will be taken over by the state department of trade and com. merce today. because of discrepancies in the bank's records totalling about tary of the state guarantee fund has Edward C. Goerke, president of the bank. has been missing since midnight Thursday Detectives found his Omaha apartment in disorder.

4. July 4, 1926 The Springfield Daily Republican Springfield, MA

Article from The Springfield Daily Republican, July 4, 1926

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Article Text

TWO MORE BANKS IN FLORIDA FORCED TO CLOSE DOORS Run Citizens' Bank of on Homestead Causes Shutdown Florandana Club Bankrupt Fla., July Heavy withdrawals by depositors in the Citizens' bank of Homestead caused the institution to close doors today pending settlement. Officers the bank said they expected to reopen Total in the Homestead bank were $441,536. the April 20 statement of the bank The bank capitalized $50,000 with $25,000 Free president and Newt The bank Homestead. bank said to be in sound financial condition. ment One Closed at Fort Lauderdale Fort Lauderdale, July bank failed open its doors for today by the of directhe hands city ual and depositors assured that there cause for alarm. Capital stock bank closed its according memthe board of organization.

5. July 4, 1926 Evening Star Washington, DC

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Article Text

Florida Bank Suffers "Run." HOMESTEAD. Fla., July 3 (P).Heavy withdrawals by depositors in the Citizens' Bank of Homestead caused the institution to close its doors today, pending a settlement. Officers of the bank said they expected to reopen Tuesday.