Alexander National Bank - St Petersburg, FL

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 12623
Charter Number: 12623
Start Date: August 6, 1929
Location: St Petersburg, Florida (27.771, -82.679)

Metadata

Model: gpt-5-mini
Short Digest: 7f705fc2

Response Measures

None

Description

Article (Aug 6, 1929) reports that Fidelity Bank & Trust acquired the banking rooms of the Alexander National at Seventh and Central and mentions banks closing in Florida after panic from crop quarantine reports. The piece does not explicitly describe a run on this specific bank, but indicates it closed and its facilities/assets were acquired, consistent with a suspension followed by closure/acquisition. Cause attributed to circulating reports/rumors and local crop-market shock.

Events (3)

1. January 8, 1925 Chartered

Source: historical_nic

2. October 19, 1927 Voluntary Liquidation

Source: historical_nic

3. August 6, 1929 Suspension

Cause: Rumor Or Misinformation
Cause Details: Closure/acquisition occurred amid a Florida banking panic driven by circulating reports that Tampa and many banks were closing and uncertainty over crop marketing/quarantine, prompting closures and reorganizations.
Newspaper Excerpt: Petersburg the Fidelity At St. Bank & Trust Company has acrooms of the quired the banking Alexander National at Seventh and Central
Source: newspapers

Newspaper Articles (1)

1. August 6, 1929 The Brownsville Herald Brownsville, TX

Article from The Brownsville Herald, August 6, 1929

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Article Text

AFTER Washington Crop Movement Report Restores Composure to Public ida's second bank panic in two years. due largely to uncertainity over marketing crops next winter because of the fruit fly quarantine, has become a thing of the past, financial interests believe. About 30 banks having closed their doors. The unexpectedness of the runs, which gained impetus after reports were circulated that Tampa and most other banks were closing. caused many sound institutions to close their doors when the reserve cash gave out, officials said. All of these banks *re preparing to reopen soon as their affairs have been straightened out to the satisfaction of the state comptrol'er. The people of Florida are recovering their composure with the news from Washington that citrus crops will be moved out of infested and protective zones and that other vegetables will also go to market In this county the State Bank of Ocoee opened the first part of the week. This bank closed more than year ago. The bulk of the depositors have agreed to frecze their deposits for period of from one to four years rather than force liquidation and poor settlements at this time. The depositors get 25 per cent of their money each March beginning next year through 1933, with interest at four per cent. The First National Bank of Winter Garden in all probability will reopen shortly. There will be some changes in the directorate, with one or two Orlando financiers on the board. The depositors are assured full payment. At St. Augustine three banks are be consolidated. namely: the First National, the People's Bank for Savings and the Bankers Trust Company. Announcement said have been made by the United States Comptroller, approving the consolidation. Petersburg the Fidelity At St. Bank & Trust Company has acrooms of the quired the banking Alexander National at Seventh and Central which will be Fidelity has capital The larged. of $100.000, which will be increased. to announcement plans according for reorganization. of the approval Announcement for sale of assets of the First Nattional of Lakeland to the DuPont interests, by the treasury department, has caused Sebring business that such action to predict men the sale of the assets might cause national of Sebring to the First Under the terms same concern. of the the sales contract. approved the by comptroller of currency the Inc., Almours Security bank to be will organize a new Lakeland National as the known Bank. and will pay at the earliest "practical time 25 per cent dividend to all creditors and pay in full preferred claims.' New Institution At Sarasota the Palmer National Company new Bank and Trust capitalized at institution financial business last opened for $100,000. stockholders The principal week. Potter Palmer of Honoree and are bank is temporarily Chicago. The rooms of the the banking occupying National bank. Its American president former is John B. manager Cleveland, of the for past three years the the Palmer coroffices of Tampa poration.