2522. American National Bank (Sarasota, FL)

View Charter #12751 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
12751
Charter Number
12751
Start Date
May 1, 1928*
Location
Sarasota, Florida (27.336, -82.531)

Metadata

Model
gpt-5-mini
Short Digest
f983951b

Response Measures

None

Receivership Details

Depositor recovery rate
18.3%
Date receivership started
1928-05-15
Date receivership terminated
1932-09-24
OCC cause of failure
Economic conditions
Share of assets assessed as good
46.3%
Share of assets assessed as doubtful
38.7%
Share of assets assessed as worthless
14.9%

Description

The bank failed in May, 1928 (Evening Star, 1934) and a receiver was in place by mid-June 1928 (Bradenton Herald 1928-06-17). No articles describe a depositor run prior to suspension; permanent failure with receiver appointed fits suspension_closure.

Events (4)
1. May 26, 1925 Chartered
Source
historical_nic
2. May 1, 1928* Suspension
Cause Details
Article states the bank failed in May, 1928 but gives no specific cause for the suspension/failure.
Newspaper Excerpt
The bank failed in May, 1928, but the receiver turned back to the county $11,939.23 of its deposits.
Source
newspapers
3. May 15, 1928 Receivership
Source
historical_nic
4. June 17, 1928 Receivership
Newspaper Excerpt
appointment at attorney for A. M. Anderson of Minneapolis, the latter being receiver for the American National Bank of Sarasota which recently closed its doors.
Source
newspapers

Newspaper Articles (5)
1. June 17, 1928 The Bradenton Herald Bradenton, FL
Article from The Bradenton Herald, June 17, 1928

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Article Text

appointment at attorney for A, M. Anderson of Minneapolis, the latter being receiver for the American National Bank of Sarasota which recently closed its doors. BRIGHT LIGHT IN SKY BELIEVED COMET While passing along the Cortez road near the Crescent Poultry Farm early Saturday, Mrs. W. R. Hutchinson and her son Jack, while riding with a party of friends in an auto, saw what Mrs. Hutchinson describes as "the most beautiful sight I have ever seen.' A bright light from the southeast flared across the sky and passed the northeast and was followed by queer smell of gas. Mrs. Hutchinson believes the bright light was that of a comet.

2. March 3, 1929 The Bradenton Herald Bradenton, FL
Article from The Bradenton Herald, March 3, 1929

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Article Text

Is Representing Bank Receivers W. B Crichlow, a member of the local bar. has been retained as general counsel by the receivers of the Carlton National bank Wauchula, First National bank Avon Park and First National bank of Punta Gorda. The pointment came through F. G. Awalt. deputy comptroller. ar Crichlow is also representing the receiver for the American National bank of Sarasota, Canada spends an estimated $6,000,000 every year for Amer ican publications and only $33,000 a year for British periodicals.

3. May 7, 1929 The Bradenton Herald Bradenton, FL
Article from The Bradenton Herald, May 7, 1929

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Article Text

Crichlow Is Attorney For Bank Receivers W B Shelby Crichlow has just been appointed general counsel and attorney for the receiver of the First National bank of Sebring. This is being under the supervision of the the treasury department of the United States This the fifth receivership of national banks which is being represented by Mr. Crich low general counsel and attor ney The other receivership which he represents American Na tional bank of arasota, First National bank of Punta Gorda. Carlton National bank of Wauchula, and First National bank of Avon

4. May 10, 1931 Tampa Bay Times St. Petersburg, FL
Article from Tampa Bay Times, May 10, 1931

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Article Text

Bank Receiver Orders Dividend SEBRING May W Doepke, receiver for the First Na. tional bank of Avon Park, announced today the of currency had second 10 per cent dividend, amounting to approximately to be paid depositors in the defunct institution. A previous dividend. amounting to nearly $35,000 was paid last December. Doepke also announced recomhad been made second 10 per dividend, amounting approximately to be made depositors in the defunct Sebring National bank The first dividend amounting about $35,000 was paid November Effective Monday, Doepke also he take for the Carlton National bank the American National bank, Sarasota, and the 1Frst National bank of Punta in addito such duties for the Avon Park and Sebring institutions.

5. January 28, 1934 Evening Star Washington, DC
Article from Evening Star, January 28, 1934

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Article Text

JUDGMENT UPHELD NEW ORLEANS, January 27 (AP).A judgment of $5,427.18, rendered in Federal Court in the Southern district of Florida in favor of the American Surety Co. of New York against Sarasota County, Fla., was affirmed today by the Fifth United States Circuit Court of Appeals. The New York concern was surety on the bond of the American National Bank of Sarasota to secure public deposits. The bank failed in May, 1928, but the receiver turned back to the county $11,939.23 of its deposits. Prior to this transaction the surety company gave the county $10,000. The county deducted $5,427.18, an amount owed for bridge construction work, and sent the remainder back to the surety company.