2393. First Bank (Lake Worth, FL)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
March 14, 1927
Location
Lake Worth, Florida (26.620, -80.059)

Metadata

Model
gpt-5-mini
Short Digest
74650fe8

Response Measures

None

Description

Multiple contemporaneous articles (Mar 14–15, 1927) report the First Bank of Lake Worth did not open and was closed along with other Palm Beach County banks. Coverage describes the closings as precipitated by earlier bank failures and runs elsewhere in the county and states the suspended banks expected to reopen within 30–60 days. No article clearly reports a depositor run specifically on First Bank, and no receivership or permanent takeover is mentioned, so I classify this as a suspension with expected reopening. OCR errors in the clippings (missing words, punctuation) were corrected where obvious.

Events (1)
1. March 14, 1927 Suspension
Cause
Local Banks
Cause Details
Closing of other Palm Beach County banks and runs in the county precipitated the bank's failure to open; officials link recent suspensions to agitation and rapid withdrawals following other bank closings in the area.
Newspaper Excerpt
The First bank of Lake Worth failed doors for business morning ... The First Bank of Lake Worth did not open this morning
Source
newspapers

Newspaper Articles (7)
1. March 14, 1927 The Journal Times Racine, WI
Article from The Journal Times, March 14, 1927

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Article Text

Three More Florida Banks Are Forced to Close Doors PALM Palm Beach county banks their today while another local financial to stave The Farmers Bank and Trust West Palm Beach. one of the largest banks this did open today following midnight by Its that the closing of two local banks Palm Beach bank last Tuesday had precipitated the action. the First National bank and the Ocean City bank Delray did not open this morning No reasons their separate were made public. Hawkins state bank examiner. assumed charge of the Delray stitution closing Lake worth left that without bank long line of men and women braved pelting. Intermittent rain here this morning in determined on the Citizens bank of West Palm Beach sizeable crowd started forming an hour before its usual opening time mented by the reports Farmers bank had been opened. The line stretched almost block half Mild excitement while friends of the bank sought with each person line to influence all against funds The line remained intact through hard shower Reports circulated that an armored was en route here substantial financial aid from The Citizens bank. together with the Farmers bank week weathered the determined runs. Arrival from Miami of an armored truck at o'clock with 12 of paper for the Citizens prompted announcement officials that the bank Intended to remain open until o'clock tonight to meet every de. mand depositors The line of patrons had dwindled and terested continued to surge past PALM BEACH. March The First bank of Lake Worth failed doors for business morning This banking institution Lake First Bank and Trust company having closed on Feb 23. EST PALM March Ocean bank of Delray failed open its doors making third bank radius of miles close morning T. state bank examiner. in charge The Farmers Bank and Trust three banks resort announced night through bank would not be open for business today

2. March 14, 1927 Pottsville Republican Pottsville, PA
Article from Pottsville Republican, March 14, 1927

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Article Text

PALM BEACH BANKS CLOSE WEST PALM Mar 14 Beach banks failed their doors while local financial sought stave off a Farmers' Bank & Trust Co., West Palm Beach, the largest banks section, did today midnight nouncement Recse its ident, that the closing banks Palm Beach Tuesday had precipitated the action the First Bank, Lake Worth, the Ocean Bank. of Delray did not open No reasons were public Hawkins, state bank assumed charge the Delray The closing Lake left that city without bank.

3. March 14, 1927 The Montana Record-Herald Helena, MT
Article from The Montana Record-Herald, March 14, 1927

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Article Text

THREE FLORIDA BANKS CLOSED; TOTAL NOW SIX PALM BEACH March 14 county banks open while another institution sought to run The and pany of Palm of the largest banks In did not open today following midnight by that the closing of two local banks and Palm bank last Tuesday had precipitated the the First Bank of Lake Worth and the Ocean City Bank of Del Ray did No reasons for their separate were made public actions state the Del Ray The at Worth left city closing without bank The Del Ray bank capitalized deposits the Worth bank capital of and deposits according their last long of and women pelting rain here run Citizens Bank of sizeable time and the the not the person all of funds The of the statement clared Bank the ered the determined Henry Brown cashier of the Fed Reserve Helena from February until April president of the First National bank at from this city position the southern institution He cently be

4. March 15, 1927 The Grand Rapids Press Grand Rapids, MI
Article from The Grand Rapids Press, March 15, 1927

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Article Text

THREE PALM BEACH BANKS CLOSE, BUT PATRONS ARE CALM Run on One Institution Subsides After Half Day of "Rushing." ALL PLACES TO REOPEN Inactivity of Real Estate Operations Blamed; Money Houses Not Insolvent. West Palm Beach, March 16. quieter tone pervailed the Palm Beaches Monday period of when determined run Citizens bank, prompted by the closing of three banks in Palm Beach county abated early in only short lines of depositors windows Two three banks remaining open did experience closing The bank plenty funds been pay positors, until to meet all requests for payment return to normality aided largely Miami of sacks of currency for bank The which did open Monday included Farmers Bank Trust of the largest banking institutions here. bank closed temporarily, announced. the interest Plans the bank within 30 or 60 days Officials Issue Statements. First bank of Lake Worth and Delray were other banks which did Monday No statement was regarding their Officials of the Citizens bank expressed their determination close will be even stronger now when direcbank the real estate mar ket and the fact much the based upon estate security was given by the the which faster the banks could liquidate resulted in the down making necessary for the institutions suspend, he that does not that because bank close Another reason. for the recent suspensions, the comptroller lieved, been cashing checks for into the state this winter This costs the banks instead of helping them, he declared. Officials the Central Farmers bank and the National Bank West Palm Beach, the other institutions which the condibe good. They anticipated no financial culties.

5. March 15, 1927 The Tampa Tribune Tampa, FL
Article from The Tampa Tribune, March 15, 1927

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Article Text

LOANS ON REALTY BLAMED BY AMOS Comptroller's Reassuring Statement Calls for Co-operation WASHINGTON, March sociated offi. cials tional situation ida, but characterized the condition the national banks there as "generally The closed National Bank, Lake Worth, first institution the state to pend Lee H. Northcott national bank for Florida, charge of bank situation in the state. WEST PALM BEACH, March (Associated Palm Beach county closed Citizens here o'clock requests for drawals. banks in the city did not experience The return normal aided largely by noon from Miami bearing sacks of currency for the Citizens Bank. banks which did not open for The today included the Farmers Bank and Trust the largest institutions here, which announced, interest the positors whom the bank's cent result closing. Plans for the within 30 60 days The First Bank of Lake Worth and the Bank, of banks did today statewas issued regarding closing. Co-Operation Urged here and calling the patrons banks "proper and assuring depositors that the remained will be able to meet every Officials the Citizens Bank pressed to close "The bank will be even stronger than we open again,' officers and directors the Bank Trust an meeting was decided the of estate market that much of the receivables are based on that kind of security State the cause for closings. great withdrawals which are faster than the banks liquidate receivables resulted in the breaking institutions pend, said the comptroller, adding that follow because bank closed that it is evidence of the latter statement, the the opening suspended banks in Florida the last that the of most of the banks has been gravated by the agitation looking any greater financial depression, the will (Continued on Page 10)

6. March 15, 1927 The News-Journal Lancaster, PA
Article from The News-Journal, March 15, 1927

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Article Text

CLOSE Depositors Regain On Seeing Sacks Of Currency RUN ON FOURTH HALTED West Palm Beach, March prevailed in the Palm Beaches following period of the prompted the closing of three banks Palm Beach county, abated early leaving only short lines of depositors the windows Two of the three banks remaining here did not expect They regular closing hours. The ing funds had been obpay ed to meet all quests for The normality aided largely the arrival sacks of currency for the Citizens' Bank. One Expects to Reopen The banks which not open today included the Bank Trust Company, the largest banking institutions The bank was closed temporarily announced, in the interest depositors. Plans for the within thirty sixty days were The First Bank Lake Worth and the City Bank Delray were did not today official issued regarding their clos- Meanwhile, banking officials here and Tallahassee issued quieting statements calling upon patrons to their institutions "proper co-operation" assuring depositors that which have remained open will banks be able Determined to Stay Open Officials Citizens' Bank determination not pressed close now hereafter." Inactivity of the real estate much of the based estate security given by comptroller, as the est Amos, recent closings. withdrawals which were banks could liquidate faster than have resulted in the receiveables making breaking down for the institutions necessary adding pend," because not necessarily that insolvent.' closed of the latter statement, As evidence Amos the reopening Mr. in Florida within the past year. banks

7. March 15, 1927 The Macon Telegraph Macon, GA
Article from The Macon Telegraph, March 15, 1927

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Article Text

FLORIDA BANKS CLOSE; THREE IN DAY Palm Beach County Financial Situation Aggravated by Run on Fourth OTHER TWO REMAIN CALM Statement Issued in Tallahassee and Washington Have Optimistic Tone WEST PALM March 14 quieter tone vailed in the lowing period today run the Citizens Bank, prompted by the closing three Palm Beach County banks, thin depositors at the Two three banks remaining experience runs. They regular closing The Citizens Bank. announcing that plenty of funds had depositor, to meet all payments The normal aided largely by the noon an truck from Miami bearing for the beleaguered Citizens banks which did not for open Bank and the largest banking institutions which closed temporarily announced, in interest the positors the would not cent within thirty sixty days Washington is Not Worried Bank Lake Worth Bank Del Ray banks which did official statewas issued regarding their closbanking officials and at Tallahassee quieting the patrons banks assuring tors that the which remained open will be able meet The today brought the total number banks which suspendthis past few seven. Three of these closed last Washington came word that the officials not the banks in which characterized generally good. closing today the First Bank Lake Worth said to the portant closing of national bank in the