2571. Exchange National Bank (Tampa, FL)

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 4949
Charter Number: 4949
Start Date: July 18, 1929
Location: Tampa, Florida (27.948, -82.458)

Metadata

Model: gpt-5-mini
Short Digest: dd72b5da

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Public signal of financial health

Description

A depositors' run occurred on July 18, 1929 after the closing of the Citizens Bank & Trust triggered panic; the Exchange National (and First National) paid out large sums and received millions from the Federal Reserve and correspondent banks, ending the run. No suspension of the Exchange National is mentioned. In June 1930 banks instituted a 60-day notice rule as a precaution following other Florida suspensions — this is a policy response, not a suspension of the Exchange National.

Events (3)

1. March 31, 1894 Chartered

Source: historical_nic

2. July 18, 1929 Run

Cause: Local Banks
Cause Details: Run started after the closing of the Citizens Bank and Trust and its branches; panic and whispered talk spread to depositors of Exchange National.
Measures: Paid out deposits promptly; received and displayed large shipments of currency from the Federal Reserve (millions by airplane from Atlanta/Jacksonville); posted telegrams of assistance from correspondent banks; police detail maintained order.
Newspaper Excerpt: Two big Tampa banks...put the run to rout by pouring into the outstretched hands wild eyed customers every dollar demanded...airplane swooped city $1,000,000 here from Atlanta by the federal reserve bank. Five million dollars was here or on the way
Source: newspapers

3. June 12, 1930 Other

Newspaper Excerpt: To protect their depositors...the Tampa banks invoked regulation requiring depositors give 60-day notice intention withdraw funds from their savings accounts...statement issued by the following: First National Exchange National bank, First Savings and Trust company...Bank of West Tampa.
Source: newspapers

Newspaper Articles (9)

1. July 18, 1929 The Tampa Tribune Tampa, FL

Article from The Tampa Tribune, July 18, 1929

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NATIONAL BANK PRESIDENTS ASK FOR CONFIDENCE Can Meet All Demands; No Cause for Alarm Griffin, president of the Exchange National bank, in statement yesterday, urged the people to their heads" and become panic stricken disturbed. question of confidence," Mr. Griffin said, "and the people should keep their heads. have received cash yesterday and today. This money from federal bank. Another dollars will shipped tonight for We have all demands expect continue Northern correspondents the Exchange Mr Griffin said, including some the largest the United States, telephoned and telegraphed offers assistance throughout the The people Tampa should view the situation calmly retain confidence local banks, Binnicker, president the First National in statement yesterday afternoon. Millions Shipped Here Creed Taylor, deputy governor the federal Atlanta, Tampa,' Binnicker having million dollars shipped for distribution in the event needed. The remaining banks liquid condition and fully able meet demands made on their depositors. "Following closing of banks this during the days the people panicky frame mind. they would view the situation calmly retain their confidence in the local banks present situation would clear financial conditions would improve." Many telegrams received during the day, Mr. Binnicker said, from correspondents in north offering every assistance needed. No Cause for Alarm "Several millions currency have federal reserve branches and Jacksonville Tampa Creed Taylor, deputy governor the federal reserve bank for alarm the people should back Ample currency be provided the federal of all depositors.' Mr. spent the entire day conferences officials of the change National First National banks. He took charge of the distribution the cash ceived Tuesday night also brought Tampa yesterday morning by airplane from the federal reserve branch The divided between the local national banks.

2. July 18, 1929 The Tampa Tribune Tampa, FL

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Northern Banks Offer Assistance But None Is While some timid Tampans were tearing their hair yesterday withvarious sums of money the National the Exchange National banks, telegrams and telephone messages coming from New York Chicago other banking centers offering and far more confidence here than apparently felt by many at home. high regard for the standing of the two banks, widely sections, setting forth that banks and finance ready turn whatever might required. But no was required. Among offers were the First Trust company, New York; First National, Chicago: Continental Illinois Bank Trust company; Dillin. Read New York: Bird Wilson, York; lantic National and Barnett National, Jacksonville; Citizens Southern National, Savannah: Irving Trust company, York, others. In every instance they offered fullcooperation the Tampa might large corporations telegraphed they arranged open accounts First the Exchange transferring money and expressing the fullest fidence the banks Tampa

3. July 18, 1929 The Tampa Tribune Tampa, FL

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MILLIONS HAND TO PAY ALL Cash Halts Runs After Citizens' Closings Two big Tampa banks, with combined stood up like two big stone walls under which followed the failure of the Citizens Bank Trust four of its Tampa branches, and five Florida, open their doors o'clock in the morning. They put the run to rout by pourinto the outstretched hands wild eyed customers every dollar manded. Then they the lines begin break airplane swooped city $1,000,000 here from Atlanta by the federal reserve bank. Five million dollars was here or on the way night from the federal reserve bank, which will send dollar every bit of money on deposit if the people want take Storm Over But there was evidence last night funds will be required. On the other hand, there was every evidence that the had blown over, the people had got possession of their senses, with confidence their banks, broken much reckless and whispered talk, restored. In all of its time Tampa never had like yesterday. shook the did not shake the faith the themselves. They stood up, paid out promptly quickly account called for, announced that they would out today, wanted. and that there no reason for further excitement the people would only keep their heads. They keeping their heads last Most withdrawn probably will be banked again today. There confiof the people went bed. During day there came from directors of the the early the belief that depositors would paid percent on the dollar." Whether would turn that was widely discussed, but the closing, measure, taken largely to mean that depositors would suffer slight Small Banks Stand Up There no estimate of the total amount withdrawn from the First National and Exchange National, the big banks which brunt the cash being taken other deposited. smaller banks town met demands and closed the day in good shape. As they looked back last night, most people agreed there little reason for excitement. Monday, the Bank City branch the Citizens. steadily until o'clock in the aftertrickle that finally hit the dam. City followed streak and whispered talk, spreading over period weeks. How started, knows. Directors Citizens, notice posted the doors yesterday, referred gossip." When the Citizens and its branches decided close, the people lost their That, in word, started. Within the last week, the force the postal savings bank rushed. rushed day. But show the upset mind many people, there were from postal bank erated the government the United States. To Replace Deposits All over Tampa last night men and women were hiding their large small. This many problem greater than any other. natural, therefore, hear from many quarters that they would put back. With the first streak of daylight (Continued on Page

4. July 18, 1929 The Tampa Times Tampa, FL

Article from The Tampa Times, July 18, 1929

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OF CRIME AS FLURRY ENDS Police Guard Against Underworld Uprising. Fear that an epidemic of robberies would break out with the underworld element aware that thousands people withdrew deposits from the First National and Exchange National banks yesterday following the closing of the Citizens Bank and Trust company proved groundless, check by the police department this morning revealed. There were two breaking enterings last night and only instance was anything stolen and then only $10. The robbery occurred the Secafe, street. the thief removing screen from window the $10 from the cash register. The instance attempted robbery Nebraska avenue grocery store. insure against any such sibility beries, Chief Police James McCants the ber officers duty last night double strength today. The double duty means four hours extra for three reliefs shifts The duty fect noon crowdthe banks and the streets the vicinity.

5. July 18, 1929 The Tampa Times Tampa, FL

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Quiet is Restored Strength Proved The arrival of more than five million dollars in cash at the First National and Exchange banks in Tampa last night and yesterday, coupled with hard rain this morning, served to put definite stop the run started excited depositors on these institutions yesterday following the closing of the Citizens Bank and Trust company. When the national banks opened for today, huge piles currency sent the fedreserve banks of Atlanta Jacksonville were stacked the tellers' cages, and the sight of the currency stopped many depositors contemplated taking out their deposits soon possible. Run Over. Police details were on hand both the First National bank and the Exchange National bank the opening hour today, and immediately formed the in line. At the First National bank, customers funds usual tellers' gathered savings today this institution were very light. perhaps 200 people the after by and the lobby of the bank occupied friends the called their success halting which began yesterday. bank in Ybor officials had foreseen the it, today supplied with more enough take demands made depositors. The run this bank was not considered seri- Patrons Read Good News. Patrons of the First National lobby building today either given insight into the strength the bank when they read telegrams posted bulletin board offers financial assistance, neded. bank, First National bank Chicago, the the United States: the Chemical and Trust the Irving Trust company, New York:

6. October 26, 1929 The Tampa Times Tampa, FL

Article from The Tampa Times, October 26, 1929

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Government Back Of Banks With All Cash Needed Financial Centers Wire Messages Of Faith If the people of Tampa would show the same confidence in the First National and Exchange National banks that the United States government has shown, through the Federal Reserve bank, the runs here would immediately end. That in effect what E. R. Black, governor of the Federal Reserve bank of Atlanta, said this morning. Mr. Black arrived here with $5.government cash meet the demands of the nervous depositors of the two lowing the arrival cash airplane yesterday. He declared the runs the banks here were entirely useless, the the action depositors are their money only react to the disadvantage Tampa. Besides cash assistance from the Federal positive surance the banks largest financial number the wired offers of were the First National and the Exchange. Sound, Say Big Banks. from the Chase The wires New the National, Chicago: Chemical Bank and Trust New Atlantic National, Irving Trust of New York: Florthe ida Philadelphia National, of PhiladelNationally known institutions. every And there were score or more of telegrams from great private Publix Cudahy packing the Hahn The runs the banks, which began yesterday Ybor City, the downtown instituspread resumed morning tions, the institutions opened their when doors. There were lines waiting front the First the the Bank West Tampa, and the banks. Crowds Orderly. Details policemen were on duty before the opened the perfect order when the various institutions opened. There no confusion, such attended the runs following the closing of the Citizens Bank Trust and its affiliated houses last July. The depositors admitted the banks in lots fast tellcould them and out. The fill. ed, kept in by officers Small Withdrawals. Officials the banks in that virtually all the depositors line represented accounts, largely None them expressed concern over the situation, though same they invariably to the disadvantage Governor expressed tire confidence ability the banks to withstand any possible demands: have shown by our acts our (Continued on Page

7. October 26, 1929 The Tampa Times Tampa, FL

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Federal Reserve And Big Banks Back of Tampa E. Black, governor of the Federal Reserve bank at Atlanta, called today upon citizens of Tamshare the same faith in the local banks that the federal and other big banking institutions the show. His statement, telegrams from institutions to President R. J. Binniker, of the First National, President Griffin, of the Exchange National, follow: Mr. Black said: yesterday morning, Federal Reserve notified bank that there was an excitement the savings depositors banks and that limited from being largely by banks depositors. We savings concerned this report the National We knew that and Exchange National absolutely solvent were deserving the entire both confidence of their what these banks We knew Tampa and each We its its that these banks felt strongly both the gratitude and served and realized that the business We interests industries the interests savings were dependent upon the continued growth and progress banks. this knowledge prompted immediately the full Federal Reserve bank banks meet such situamight arise. this effort tion these two banks, the back Federal Reserve bank on yesterday which this morning. have our acts our full in these banks. "The future Tampa, my depends largely upon equal of Tampa citizens. The two banks this confidence. In asking confidence part Tampa people, asking and than Federal Reserve bank has Tampa with Federal Reserve bank for the the purpose backing our confidence Black, Governor The Federal Reserve Bank Atlanta. Mr Binnicker, president of the National received today heard there some stop If can be of any service National Bank, New York City. "Sorry learn of troubles city hope having trouble stop of service to you kindadvise. Lane. chairman Citizens National Bank, Savannah, Ga. "Have just been informed sumption financial difficulties Tampa depend upon for Trust Company, New York "Just learned run on feel the the your institution has full of your stability which result quickly confidence. We will be to be of any assistance possible. Perry, president Florida National Bank, Jacksonville, Fla. the Philadelphia National bank can to you president Philadelphia National Bank. Philadelphia, Pa. heard the and support. Chemical Trust New York city. "Understand financia] dis exists for assistance First National Bank, Chicago, III. good bank always had full hope upon thing stop can send currency chairman, Atlantic National Fla Mr. Griffin. president of the Ex change bank. received the there are some city and Philadelphia National bank service to you your Joseph Wayne, president (Continued Page Two-A)

8. June 12, 1930 La Gaceta Tampa, Ybor City, FL

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LOS QUE TIENEN CUENTA DE AHORRO DEBERAN NOTIFICAR CON 60 DIAS DE ANTICIPACION PARA PODER SACAR SU DINERO Vista la gravedad de la situa ción que se presentaba en la tar de de ayer, por el pánico injustificado de los depositantes, los directores de los bancos de esta ciudad se reunieron y tomaron el siguiente acuerdo: A partir de hoy (jueves) los bancos de Tampa requerirán una notifica, ción de 60 días de los depositantes que tengan la intención de retirar sus cuentas de ahorro, estrictamente de acuerdo con el contrato bajo el cual tales depósitos fueron originalmente aceptados. Tomamos esta acción en un tiempo de intranquilidad debido a la infortunada suspensión de pago de los bancos en otras partes del estado y para la protección de los bancos, nuestros depositantes y la conveniencia pública. Todas las demandas de devolución de depósitos hechas por los que tienen cuenta corriente serán atendidas en el acto. (Firman) : First National Bank, Exchange National Bank First Savings and Trust Co., Latin American Bank of Ybor City, Columbia Bank of Ybor City y Bank of West Tampa.

9. June 12, 1930 The Tampa Times Tampa, FL

Article from The Tampa Times, June 12, 1930

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Banks to Require 60-Day Notice To Draw on Savings Six banks of Tampa took vigorous steps this morning to prevent the spreading here of panicky feeling as the result of the suspension Miami and other Florida cities. To protect their depositors and the public generally, the Tampa banks invoked regulation requiring depositors give 60-day notice intention withdraw funds from their savings accounts. take this action at time of unrest bank other parts of the state for the protection of the banks, our depositors and for the public welfare, statement issued by the following: First National Exchange National bank, First Savings and Trust company. Ybor City, Columbia the Bank of West Tampa.