2378. Kelsey City State Bank (Kelsey City, FL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 18, 1928
Location
Kelsey City, Florida

Metadata

Model
gpt-5-mini
Short Digest
1d99ba66

Response Measures

None

Description

Bank closed June 18, 1928 'to avoid a run' after suspension of the First American; no run on Kelsey City bank is described. A receiver (R. C. Barker) was appointed in August 1928, indicating permanent closure/receivership. Some articles use 'Kelsey State Bank' but context and other sources identify it as Kelsey City State Bank.

Events (2)
1. June 18, 1928 Suspension
Cause
Local Banks
Cause Details
Closed to avoid a possible run growing out of the suspension/closing of the First American Bank in West Palm Beach.
Newspaper Excerpt
The Kelsey State Bank at Kelsey City, adjoining West Palm Beach also was closed. ... The Citizens bank's door bore the statement that the bank was closed to avoid a run, and for the protection of depositors.
Source
newspapers
2. August 1, 1928* Receivership
Newspaper Excerpt
Appointment of R. C. Barker of Kelsey City as receiver for the Kelsey City State bank, made August by State Comptroller Ernest Amos was confirmed by Judge E. Chillingworth of the circuit court here.
Source
newspapers

Newspaper Articles (7)
1. June 18, 1928 The Orange Leader Orange, TX
Article from The Orange Leader, June 18, 1928

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Article Text

MORE FLORIDA BANKS CLOSED WEST PALM BEACH, Fla., June 18.-The First American and the Citizens banks here failed to open for business today. The Kelsey State bank at Kelsey City, adjoining West Palm Beach also was closed A statement on the door of the First American said the bank was in the hands of the state banking department. The Citizens' bank's door bore the statement that the bank was closed to avoid a run, and for the protection of depositors. It was feared that a run on the Citizens bank would following the closing of the First American, it was said.

2. June 18, 1928 Brownsville Herald Brownsville, TX
Article from Brownsville Herald, June 18, 1928

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Article Text

Two Palm Beach Banks Are Shut WEST PALM BEACH, Fla., June 18.-(A))-The first American and the Citizens banks here failed to open for business today. The Kelsey State Bank at Kelsey City, adjoining West Palm Beach also was closed. A statement on the door of the First American said the bank was in the hands of the state banking department. The Citizens bank's door bore the statement that the bank was closed to avoid a run, and for the protection of depositors. It was feared that a run on the Citizens would follow the closing of the First American, it was said.

3. June 18, 1928 Brownsville Herald Brownsville, TX
Article from Brownsville Herald, June 18, 1928

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Article Text

Two Palm Beach Banks Are Shut WEST PALM BEACH, Fla., June 18.-(A))-The first American and the Citizens banks here failed to open for business today. The Kelsey State Bank at Kelsey City, adjoining West Palm Beach also was closed. A statement on the door of the First American said the bank was in the hands of the state banking department. The Citizens bank's door bore the statement that the bank was closed to avoid a run, and for the protection of depositors. It was feared that a run on the Citizens would follow the closing of the First American. it was said.

4. June 18, 1928 The Daily Advertiser Lafayette, LA
Article from The Daily Advertiser, June 18, 1928

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Article Text

FLORIDA BANKS IN LIST OF CLOSED AT WEST PALM BEACH Failed To Open For Business This Morning And Brief Statement Made (By The Associated Press) WEST PALM BEACH. Fla., June Three banks in the West Palm Beach area with aggregate resources of more than $7,500,000, failed to open their doors for business today. A statement on the doors of one of the banks merely said that it was suspending through fear run growing out of the suspension of another bank. The suspended banks are: The First American and The Citizens, two of the oldest financial institutions in West Palm Beach, and the Kelsey City State Bank at Kelsey City which was affiliated with the First American. The First American merely announced that the bank was in the hands of the state banking department and the officials have not elaborated upon that information.

5. June 19, 1928 Evening Star Washington, DC
Article from Evening Star, June 19, 1928

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Article Text

THREE BANKS FAIL TO OPEN IN FLORIDA First American Institution at West Palm Beach Gives No Statement. By the Associated Press. WEST PALM BEACH. Fla., June 19.-Two banks in West Palm Beach and one nearby, with aggregate resources of more than $7,500,000, failed to open yesterday and the statement was made on behalf of one of them that it was closed to avoid a possible run growing out of the suspension of one of the others. The banks closed are the First American Bank. the Citizens Bank, two of the oldest financial institutions in West Palm Beach, and the Kelsey City State Bank at Kelsey City near here, which is affiliated with the First American. Officials of the First American could not be reached for a statement. The bank is in the hands of the State banking department. The closing of the Citizens Bank, It was said, was caused by the First American's closing. The First American had been reopened and has been operating for several months following a temporary closing two years ago. The suspensions today did not affect the Central Farmers' Trust Co., the only other bank in West Palm Beach, or the First National. Palm Beach's only financial institution.

6. June 21, 1928 Opelousas News Opelousas, LA
Article from Opelousas News, June 21, 1928

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Article Text

FLORIDA BANKS IN LIST OF CLOSED AT WEST PALM BEACH Failed to Open for Business Monday Morning and Brief Statement Made Three banks in the West Palm Beach area with aggregate resources of more than $7,500,000, failed to open their doors for business Monday. A statement on the doors of one of the banks merely said that is was suspending through fear of a run growing out of the suspension of another bank. The suspended banks are: The First American and The Citizens, two of the oldest financial institutions in West Palm Beach, and the Kelsey City State Bank at Kelsey City which was affiliated with the First American. The First American merely announced that the bank was in the hands of the state banking department and the officials have not elaborated upon that information.

7. August 9, 1928 The Palm Beach Post West Palm Beach, FL
Article from The Palm Beach Post, August 9, 1928

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Article Text

BARKER IS NAMED BANK RECEIVER KELSEY CITY Appointment of R. C. Barker of Kelsey City as receiver for the Kelsey City State bank, made August by State Comptroller Ernest Amos was confirmed by Judge E. Chillingworth of the circuit court here. Mr. Barker is widely known resident of Kelsey City. W. Terry Gibson and D. L. Southard. West Palm Beach lawyers, act as counsel for the receiver.