Exchange Bank - Tallahassee, FL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 25, 1932
Location: Tallahassee, Florida (30.438, -84.281)

Metadata

Model: gpt-5-mini
Short Digest: da4266ae

Response Measures

None

Description

Article (Tallahassee Democrat, 1932-11-25) reports the Exchange Bank failed to open, officials appointed a state liquidator (Comptroller Amos). The bank had been operating under a limited-withdrawal (30/60/90-type) plan for three months prior. This is a suspension followed by closure/receivership by the state.

Events (2)

1. November 25, 1932 Receivership

Newspaper Excerpt: Payne H. Midyette has been appointed liquidator for the state by Comptroller Amos. the affairs the institution.
Source: newspapers

2. November 25, 1932 Suspension

Cause: Government Action
Cause Details: Failed to open and final suspension; Comptroller Amos appointed Payne H. Midyette as state liquidator; bank had been under limited-withdrawal plan for three months.
Newspaper Excerpt: EXCHANGE BANK FAILS TO OPEN Suspends Business After Operating Days on Freezing The Exchange bank of Tallahassee failed to open its doors today.
Source: newspapers

Newspaper Articles (1)

1. November 25, 1932 Tallahassee Democrat Tallahassee, FL

Article from Tallahassee Democrat, November 25, 1932

Click image to open full size in new tab

Article Text

EXCHANGE BANK FAILS TO OPEN Suspends Business After Operating Days on "Freezing" The Exchange bank of Tallahassee failed to open its doors today. Payne H. Midyette has been appointed liquidator for the state by Comptroller Amos. the affairs the institution. The institution days availed itself of provision allowing limit withdrawals for three months. During the interim checking have been paid 20 per cent, available for the the time. Depositors with saving counts in the institution required the time 30 notice of intention to withdraw their money. Since the death of the institupresident, on August 30, the bank's affairs have been in charge Collins chairman of the board of direcThe limited withdrawal plan adopted, officials the bank stated, because of steadily ling deposits August capitalized was Tallahassee's newest bank. Final suspension of business by the Exchange bank leaves the city, two financial institutions. They are the Lewis State bank, deposit the time its last published statement, and the Capital City bank. with approximately million and quarter deposit. These institutions never in any the culties which involved the change bank, their officials