2593. Sumter County State Bank (Webster, FL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 29, 1921
Location
Webster, Florida (28.610, -82.055)

Metadata

Model
gpt-5-mini
Short Digest
712a608c

Response Measures

None

Description

Comptroller closed the Sumter County State Bank and appointed a receiver. Closure attributed to slow loan collections tied to crop conditions and reduced reserves. No run reported in the articles.

Events (1)
1. January 29, 1921 Suspension
Cause
Government Action
Cause Details
Closed by the comptroller because of slow collections on loans due to crop conditions and a reduction of the bank's reserves.
Newspaper Excerpt
The comptroller has closed the doors of the Sumter county state bank at Webster and appointed a receiver for the institution.
Source
newspapers

Newspaper Articles (2)
1. January 29, 1921 Palatka Daily News Palatka, FL
Article from Palatka Daily News, January 29, 1921

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Article Text

SUMTER COUNTY STATE BANK ORDERED CLOSED. Tallahassee, Jan. 29-The comptroller has closed the doors of the Sumter county state bank at Webster and appointed a receiver for the institution. Slow collections on loans due to crop conditions and a reduction of the bank's reserves caused this action to be taken. It was stated that the deposits in that the lossthe bani natirible

2. January 29, 1921 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, January 29, 1921

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Article Text

Florida Bank Is Closed By Associated Press Tallahassee, Fla., January 28.-The comptroller has closed the doors of the Sumter Copnty State bank at Webster and appointed a receiver for the institution. Slow collections on loans, due to crop conditions, and a reduction of the bank's reserves caused this action to be taken, the comptroller said. He alac stated that the losses will be negligible