2598. Farmers Bank (West Palm Beach, FL)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
March 8, 1927
Location
West Palm Beach, Florida (26.715, -80.053)

Metadata

Model
gpt-5-mini
Short Digest
cb0d342a

Response Measures

Accommodated withdrawals, Public signal of financial health, Full suspension

Description

Contemporary articles (Mar 8, 1927) report runs on the Farmers Bank of West Palm Beach and that several Palm Beach banks closed or suspended (First American posted suspension). Subsequent reports link the failure/closing of the Farmers Bank to further bank failures in the region, implying the Farmers Bank did not simply reopen. No explicit reopening or receiver assignment is mentioned in the provided clippings, so I classify as run leading to suspension/closure. Bank Charter type not specified in texts, so set to unknown.

Events (3)

1. March 8, 1927 Run
Cause
Local Banks
Cause Details
Run occurred as part of a wider frenzied run in Palm Beach after several leading banks closed or suspended, prompting depositors to withdraw from remaining local banks.
Measures
Armored car dispatched from Miami bearing cash to distribute to panicky depositors; banks posted notices that business was suspended for the protection of depositors.
Newspaper Excerpt
Runs on the Farmers Bank and the Citizens Bank of West Palm Beach were such that an armored car was dispatched from Miami bearing cash for panicky depositors.
Source
newspapers
2. March 8, 1927 Suspension
Cause
Local Banks
Cause Details
Business was suspended for the protection of depositors amid heavy withdrawals and unsettled conditions in the Palm Beach banking district following runs and closures of nearby institutions.
Newspaper Excerpt
No sooner had the First American Bank and Trust company posted notice that business was suspended for the protection of depositors than two other institutions closed...
Source
newspapers
3. March 18, 1927 Other
Newspaper Excerpt
the failure of the Farmers Bank in West Palm precipitated the closing. ... There had been no concerted run. The bank's deposits were given as $1,287,124.39.
Source
newspapers

Newspaper Articles (18)

Article from Battle Creek Moon-Journal, March 8, 1927

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Article Text

PALM BEACH BANKS CLOSED Move Starts Run on Other Institutions of District. West Palm Fla., March leading banks the Palm Beach district closed their doors today and started of the most frenzied runs the history of Florida finance. found streets jammed with depositors their money from remaining banks of the Runs the Farmers Bank and Citizens Bank of West Palm Beach that an armored dispatched from Miami bearing cash for panicky No sooner had the First AmeriBank Trust posted notice business suspended the protection depositors tions Bank Trust of West Palm Beach and the First Bank and Trust Palm Beach. Heavy all three banks during the eight affairs part the state given as reasons for the ing.


Article from The Vincennes Sun-Commercial, March 8, 1927

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Article Text

THREE LEADING FLORIDA BANKS CLOSE DOORS West Palm Beach, Fla., March (UP) leading banks of the Palm Beach district closed their doors today and started one of the most frenzied runs in the history of Florida finance. Midday found streets jammed with depositors seeking to save their money by withdrawing it from remaining banks of the city. Runs on the Farmers Bank and The Citizens Bank of West Palm Beach were such that an armored car was dispatched from Miami bearing cash for the depositors. No sooner had the First American Bank and Trust company posted notice that business was suspended for protection of depositors than two other institutions closed -the Northwood Bank and Trust company of West Palm Beach and the First Bank and Trust Company of Palm Beach.


Article from The Waukesha County Freeman, March 8, 1927

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Article Text

RUN OPENED FLORIDA BANKS WEST PALM BEACH, Fla. leading banks of the Palm Beach district closed their doors today and started one of the most frenzied runs in the history of Florida finance. found streets jammed with depositors seeking to save their money by withdrawing from maining banks of the city. Runs on the Farmers bank and the Citizens bank of West Palm Beach were such that an armored car was dispatched from Miami bearing cash for panicky depositors. No sooner had the First American Bank and Trust company posted notice that business was suspended for the protection of depositors than two other institutions Northwood Bank and Trust company of West Palm Beach and the First Bank and Trust company Palm Beach.


Article from Astoria Evening Budget, March 8, 1927

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Article Text

THREE PALM BEACH CLOSE WEST PALM BEACH, Mar. leading banks of the Palm Beaches closed their doors this morning started one the most frenzied runs in the history of finance. Mid-day found streets jammed with depositors their money withdrawing from remaining banks of the city. Runs the Farmers Bank and the Citizens bank of West Palm Beach such that an armored despatched from Miami bearing cash for panicky deposiNo sooner had the First AmeriBank Trust company postnotice business pended for protection posits, than two other instituions closed. Heavy wihdrawals on all three bans during the past and unsettled condition affairs this part of state given as results of the closings. LOG SETTER KILLED Mar. McKinstry, log setter the Ryderwood died late yesterday sult injuries received when by swinging log.


Article from Wilkes-Barre Times Leader, March 8, 1927

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Article Text

BANKS CLOSE DOORS Three Institutions at Palm Beach Stop BusinessDepositors Fill Streets Demanding M Business Conditions Are Blamed West Palm Beach. March leading banks of the Palm Beach district closed their doors today and started one of the most frenzied runs in the history of Florida finance. Mid-day found streets jammed with depositors seeking to save their money by It from remaining of the city. Runs on the Farmers Bank and the Citizens' Bank of West Palm Beach were such that an armored car dispatched from Miami bearing cash for panicky depositors No sooner had the First American Bank and Trust Company posted notices that business was suspended for the protection of depositors than two other Institutions closed-the Northwood Bank and Trust Company of West Palm Beach and the First Bank and Trust Company of Palm Beach. Heavy withdrawals on all three banks during the past eight or ten months and unsettled conditions affairs In this part of the State were given as reasons for the suspension.


Article from The Sentinel, March 8, 1927

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Article Text

Three West Beach Banks Close Their Doors West Palm Beach, leading banks the Palm Beach district doors day and started of the most zied runs the history Florida finance. Mid-day found jam med depositors seeking their money withdrawing from remaining the Runs the Farmers Bank and Citizens Bank West Palm such that armored from Miami bearing for panicky depositors. No sooner had the First American Bank Trust Company notice that business suspended for protection positors than other institutions Northwood Bank Trust West Palm Beach, and Bank Trust Palm Heavy withdrawals on all three banks during past eight months and unsettled conditions affairs this part the given reasons for closing


Article from The Columbus Telegram, March 8, 1927

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Article Text

PALM BEACH BANKS CLOSED Failures Frenzied Precipitate Run Other Florida Banks on West Palm Beach, Fla., Mar. Three leading banks of Palm Beach district closed their doors today and started one of the most frenzied runs in the history of Florida finance. Midday found streets jammed with depositors, seeking to save their money by withdrawing from remaining banks of the city. Runs on the Farmers bank and the Citizens bank of West Palm Beach were such that an armored car was dispatched from Miami, bearing cash for panicky depositors No sooner had the First American Bank and Trust company posted notices that business was suspended for the protection of depositors than two other institutions closed-the Northwood Bank and Trust company of West Palm Beach and the First Bank and Trust company of Palm Beach.


Article from The Times, March 8, 1927

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Article Text

THREE FLORIDA BANKS CLOSED WEST PALM BEACH March leading banks of the Palm Beach district closed doors today and started one most the of Florida finance. found streets deposit seeking save money from banks of the Runs on Farmers bank and the Citizens bank of West Palm Beach were such that an armored from Miami car bearing for panicky depositors No sooner had First can Bank and Trust Company posted notice that business pended for the protection of depos. than other Northwood Bank and Trust Company of West Beach and First Bank Trust Company of Palm


Article from Monrovia Daily News, March 8, 1927

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Article Text

Frenzied Run On Florida Banks As Three Close WEST PALM March banks of the Palm Beaches closed their doors this morning and started one of the most frenzied runs In the history of Florida finance. Mid-day found streets jammed with depositors seeking to save their money by withdrawing from remaining banks of the city. Runs on the Farmers Bank and the Citizens Bank of West Palm Beach each were such that an armored car was dispatched from Miami bearing cash for panicky depositors. sooner had the First American Bank and Trust Company posted notice that business was suspended for the protection of depositors than two other tutions Northwood Bank and Trust Company of West Palm Beach and the First Bank and Trust Company of Palm Beach. Heavy withdrawals all three banks during the past or ten months and unsettled condition of affairs in this part the state were given as reasons for the closings.


Article from The Maryville Daily Forum, March 8, 1927

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Article Text

Three Banks Close; Palm Beach in Panic Financial Crisis Brings One of Most Frenzied Runs in Florida West Palm Beach, March leading banks of the Palm Beaches clos. ed their doors this morning and started one of the most frenzied runs in the history of Florida finance. Midday found streets jammed with depositors seeking to save their money by withdrawing deposits from banks which remained open. Runs on the Farmers Bank and the Citizens Bank of West Palm Beach were such that an armored car was dispatched from Miami bearing cash to be dis tributed among the panicky depositors. No sooner had the First American Bank and Trust Co. posted notice that the doors had been closed for the protection of depositors than the North wood Bank and Trust Co. of West Palm Beach and the First Bank and Trust Co. of Palm Beach, took similar action.


Article from Riverside Daily Press, March 8, 1927

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Article Text

BANKS CLOSING AT PALM BEACH Armored Car Dispatched From Miami With Cash For Depositors WEST PALM BEACH. March leading of Palm Beaches their doors this morning and started the frenzied runs in the history of Florida finance. M:2-day found streets jammed with depositors their money by from remaining banks of Runs the Farmers bank and the Citizens bank of West Palm Beach were such that an armored dispatched from Miami bearing cash for panicky depositNo sooner had the First AmeriBank and company posted notice that business pended for the protection positors two other Bank and Beach Trust and the First Bank and Trust comPalm Beach all three banks during the past eight ten months and unsettled condition of in this part of the state affairs were given as reasons for the closings.


Article from Nebraska City News Press, March 9, 1927

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FOLLOW BANKS CLOSING Crowds Jam Streets When West Palm Beach Institutions Shut Doors WEST PALM BEACH, Fla., Mar. leading banks of the Palm Beach district closed their doors today and started one of the most frenzied runs in the history of Florida finance. Midday found streets jammed with depositors seeking to save their money by withdrawing it from maining banks of the city. Runs on the Farmers Bank and the Citizens Bank of West Palm Beach were such that an armored car was dispatched from Miami, bearing cash panicky depositors. No sooner had the first American Bank and Trust Company posted notice that business was pended for the protection of depositors than two other institutions closed-the Northwood Bank and Trust Company of West Palm Beach and the First Bank and Trust Company of Palm Beach.


Article from The Richmond News Leader, March 14, 1927

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Article Text

DOORS OF THREE FLA. BANKS CLOSED Continued From First Page.. braved pelting intermittent rain here this morning in determined run on the Citizens Bank of West Palm Beach sizeable crowd started forming an hour before its usual opening time, augmented with the reports that the Farmers Bank had not opened. The line solid almost block on street and on Narciasus street a half block Mild excitement prevailed, while friends of the bank sought to talk with each person in line In an attempt to influence all against withdrawal of funds. The line remained Intact, although a hard shower dispersed eurlous which threatened at times to Jam trafthis intersection Rports were circulated that an ar mored truck was speeding here with substantial financial aid from Miami banks.


Article from The Commercial Appeal, March 14, 1927

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Article Text

when we open the bank will be even stronger than now. Mr. Reese announced that the Farmers Bank today total sources of capital $100.000, surplus $200,000 and undivided profits of $950.00. The bank was organized here in 1914. and soon took an Important place in the fl. nancial affairs of this section. Lit. the more than year ago the bank erected new structure, costing ap. proximately $1.00,000 at a principal downtown corner. The closing of this bank leaves financial institutions, including the First National Bank of Palr! Beach, the Central Farmers Trust and the Bank of West Palm Beach out of 10 which were in operation here year ago. Three banks failed simultaneously here last June.


Article from The Daily Astorian, March 15, 1927

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RUN ON BANKS HALTS Few Seek Deposits at Banks Only maining Open. WEST PALM BEACH, Fla., March tone prevailed in the quieter Palm Beaches tonight following of when demand iod excitement the Citizen's Bank, caused by on three other banks abated early today, leaving only short lines of positors at the Two of the banks remaining here did runs. They not experience hours. the regular closing The Citizen's Bank, of funds had been ed that plenty tained pay every until o'clock to meet open quests for money. was aided The return normalcy arrival from Miami largely the sacks of for the Citizen's currense Bank. The banks which did not open day included the Farmers Bank of the largest Trust banking institutions here. The closing today brought the total number of banks which have suspendthis territory within the past few Three of these closto seven. week, the first national bank the state to close.


Article from Sun Herald, March 18, 1927

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Another Florida Bank Closes Doors Stuart, Fla., March Seminole bank failed to open this morning, notice the door that recent heavy beginning the failure the Farmers Bank in West Palm precipitated the closing. There had been no The was capitalized at profits of $32,000 and deposits of 287,124.39.


Article from The News-Journal, March 19, 1927

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ANOTHER BANK CLOSED West Palm Beach Financial Trouble Reflected Another Town Tallahasse, Fla., March 18.-Financial difficulties experienced by banking institutions of West Palm Beach resulted primarily the closing today the Seminole Bank Stuart, State Department announced. The bank capitalized $50,000. notice posted door said that recent heavy beginning after the failure of the Farmers Bank in West Palm Beach, precipitated the closing. There had been no concerted run. The bank's deposits were given as $1,287,124.39.


Article from The Macon Telegraph, March 19, 1927

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BANK IS CLOSED Seminole at Stuart, Fla., Is Latest to Crash STU ART. Fla., March 18. (AP) Bank failed the that heavy with the failure Farmers Bank in West Palm the Beach. precipitated the closing. There concerted bank was at $50. undi000 vided profits $32,000 and depesits could not be reached this by bank officials posted included that the closing was partly caused by showed assets. loans deposits of $1,089,513 against Palm Beach Blamed difficulties experiby banking institutions of Palm Beach primarily the Seminole Bank closing state banking department The bank