Citizens Bank - Jacksonville, FL

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: February 7, 1928
Location: Jacksonville, Florida (30.332, -81.656)

Metadata

Model: gpt-5-mini
Short Digest: a707395f

Response Measures

None

Description

Article (Feb 7, 1928) reports the State Comptroller ordered Citizens Bank temporarily closed after he took charge of Southern Bank & Trust Co.; the closure is described as temporary and motivated by official action to bolster reserves. The article does describe runs elsewhere (First National) but not a run on Citizens. Reopening is not explicitly reported in this snippet, but the closure is characterized as temporary and government action to obtain reserve funds, so classified as suspension_reopening.

Events (1)

1. February 7, 1928 Suspension

Cause: Government Action
Cause Details: State Comptroller took charge of Southern Bank & Trust Co. and ordered Citizens Bank temporarily closed to prevent contagion and while reserve funds were obtained.
Newspaper Excerpt: State Comptroller Ernest Amos had taken charge the affairs Southern Bank and Trust Company and ordered the Citizens Bank and the Bank Allapattah temporarily closed.
Source: newspapers

Newspaper Articles (1)

1. February 7, 1928 Bristol Herald Courier Bristol, TN

Article from Bristol Herald Courier, February 7, 1928

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Article Text

Bank Closed and Two Others Suspend Business Temporarily SOUGHT BY POLICE State Takes Change of Southern Bank & Trust Co.; Reserve Funds to Be Obtained Feb. Anonymous predicting the failure of one bank caused that institution suspend business here today, the porary closing of two hours, brought about run fourth which called for $7,000,000 from the Federal branch bank Jacksonville to bolster its cash The run, determined but orderstarted at noon First National Bank following announcement that State Comptroller Ernest Amos had taken charge the fairs Southern Bank and Trust Company and ordered the Citizens Bank and the Bank Allapattah temporarily closed. Asserting he had assumed conthe Bank and Trust the request its officials because withdrawcaused the circulation the letters, Comptroller Amos said ordered other through fear they might be able to weather possible runs growing of the closing Southern. He made for coo: collected public declaring that the banks would have been able remain open under normal conditions. Run Started Meanwhile, reverberations felt an unexpected quarter when the quietly was begun the First National. Until closing the tellers were rapidly handing money every positer demanding while officials institution mingled with the crowd to spread encouragement. time of the bank, holding about persons, crowded beyond its capacity. estimated that the day began with $1,750,000 cash and that only about $350,000 was paid out during the day. When the bank closed at the hour two o'clock, officials announced that, in event the run renewed would more than $7,000,000 cash and would every mand. They said an airplane bringing $1,500,000 and that the rest the money would be sent from by train. No other banks in the city were affected. Outside Influence W. H. president of the Chamber Commerce attributed "whole to outside influences and fault in the institutions in the territory.' He said the chamber would consider the situameeting tomorrow. Romfh, president First National, announced later that the Jacksonville Federal Reserve branch had vetoed the plan send part of the by plane, but that part the (Turn to Page Two)