State Bank - Kissimmee, FL

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: *
Location: Kissimmee, Florida (28.292, -81.408)

Metadata

Model: gpt-5-mini
Short Digest: c8c2f5da

Response Measures

Accommodated withdrawals, Capital injected

Description

Article (1922-01-23) reports John L. Fouts brought over $50,000 in cash to meet demands when the closing of the State Bank (another local bank) threatened a run on the remaining institution. No suspension or closure of this bank is mentioned; action was infusion of cash to stop withdrawals.

Events (1)

1. * Run

Cause: Local Banks
Cause Details: The closing of another local bank (the State Bank) threatened to trigger withdrawals from the remaining institution in Kissimmee.
Measures: John L. Fouts brought over $50,000 in cash to meet all demands and reassure depositors.
Newspaper Excerpt: Mr. Fouts ... came to the assistance of this bank at the time when the closing of the State Bank threatened to bring a run on the one remaining institution 1 coming to Kissimmee ... with over $50,000 in cash to meet all demands
Source: newspapers

Newspaper Articles (1)

1. January 23, 1922 The Lakeland Evening Telegram Lakeland, FL

Article from The Lakeland Evening Telegram, January 23, 1922

Click image to open full size in new tab

Article Text

JOHN L. FOUTS TAKES OVER THE BANK AT OSCEOLA The Kissimmee Valley Gazette in its Friday issue prints a news story of particular interest to Polk county people. The Gazette says: "Announcement is made of the sale of the stock in the Bank of Osceola county owned by Dr. T. M. Rivers, L. H. Gedge, and M. I Stout-the purchasers being John L Fouts. of Lakeland, and his associates. The prospective sale has been rumored for some time but was not culminated till the annual meeting of the stockholders of that institution which was in session on Wednesday. "Mr. Fouts may be remembered as one of the men who came to the assistance of this bank at the time when the closing of the State Bank threat. ened to bring a run on the one repain ing institution-coming to Kissimmee as rapidly as a car would bring him with over $50,000 in cash to meet all demands which were portending He is president of the First National Bank of Lakeland, of the First State Bank of Winter Haven, the State Bank of Bartow, and the Bank of Auburndale, and this purchase merely means that he desired to add to his holdings. "By this change in the directorate John L. Fouts becomes president. J. R. Anthony, of Jacksonville, vice president, and B. B. Lumbard. who has held the position of assistant cashier, is forwarded to the post of cashier. The remainder of the force continues as before. The interests of the Bankers' Financing Company are still retained by the bank, and that company will continue to act as financial agent."