First National Bank - West Palm Beach, FL

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 11073
Charter Number: 11073
Start Date: March 14, 1927
Location: West Palm Beach, Florida (26.715, -80.053)

Metadata

Model: gpt-5-mini
Short Digest: 753e2e95

Response Measures

None

Description

In March 1927 the First National Bank of West Palm Beach 'did not open' along with other local banks after runs/closures elsewhere in the county; the articles do not describe a specific run on this bank itself. A later 1930 item states the First National 'did not open' and posted notice of closing pending merger with Farmers Bank & Trust, indicating it did not resume independent operations. Cause of the 1927 suspension is attributed to contagion from other local bank failures/runs.

Events (4)

1. September 7, 1917 Chartered

Source: historical_nic

2. February 5, 1924 Voluntary Liquidation

Source: historical_nic

3. March 14, 1927 Suspension

Cause: Local Banks
Cause Details: Did not open after other Palm Beach County banks closed and runs occurred locally; closure appears driven by contagion from other local bank failures and depositor panic.
Newspaper Excerpt: Simultaneously the First National Bank ... did not open this morning.
Source: newspapers

4. December 1, 1930 Receivership

Newspaper Excerpt: The First National here bank did not open this morning and was made posted notice that the bank had closed pending merger with the Farmers Bank & Trust (Dec 1, 1930).
Source: newspapers

Newspaper Articles (5)

1. March 14, 1927 The Houston Chronicle Houston, TX

Article from The Houston Chronicle, March 14, 1927

Click image to open full size in new tab

Article Text

THREE PALM BEACH BANKS FAIL OPEN No Reason For Separate Actions Made Public; Fourth Institution Tries to Stave Off Severe Run. "By West Palm Beach, Fla., March 14. Three Palm Beach County banks to doors while financial Institution sought to stave off a severe The Farmers Bank and Trust Company of West Palm Beach, of the largest banks in this section, did not open today following midnight announcement by Reese, its that the closing two local Palm bank last Tuesday had precipitated the action Simultaneously the First National Bank and the Ocean City Bank of Delray did not open this morning. No reasons for their separate actions were made public. of the institution. The closing at left city without bank. The Delray Bank was capitalized and the Lakeworth Bank had capital of $100,000 and de. posits both in their last statements published in July, 1926. long line men and women pelting. rain here this run on the Citizens Bank of West Beach. Reports were circulated that an armored truck route financial aid from Miami banks. and of the Citizens Bank. had been all the run this morning with the positors that sufficient funds had been obtained to pay everyone and that the bank "would not close, now or "We believe that the successful the through which West Beach has in the early tablishment the statement declared. The Citizens Bank, together with the Bank, last week weaththe determined

2. March 15, 1927 The Philadelphia Inquirer Philadelphia, PA

Article from The Philadelphia Inquirer, March 15, 1927

Click image to open full size in new tab

Article Text

THREE MORE BANKS CLOSE IN FLORIDA One of Remaining Three in Palm Beach Weathers Siege by Depositors Promised Ald by Capitalists Expects to Reopen in Sixty Days Special The WEST PALM BEACH, Fla., March 14. that the which was made after the the Farmers' here, the First National Bank, the Ocean Delray. their its survive the was the Citizens' remained dollar for dollar to paying depositors This the crowd was than This had dwindled were inside the bank. At same time that depositors clerks busy all Bank the The Deopening positors' League, organization citizens who their money in prethis the policy the Citizens' and its president, Maxfield. "The league expects this bank the the others,' Wetherby, president the league, said. Outside Banks Wire Aid The run the Citizens' Bank the that the Farmers' Bank and Trust Compledged by some the leading capitalAmerica, who are wintering Palm Beach, had closed. More to supply the huge flow of lars the from Banks Atlanta and Jacksonville had already wired sums back the surplus hand at the claimed. banks said to the bank its run. Closing the Farmers' has further the number of banks Palm from ten, the the three, and the National Bank of West Palm To Reopen, Says President Reese, the Farand Trust said the within 'Possibly within thirty in the winter colony is that the financial whose names the Bank issued last as pledged support the Sunday bank Where was held. the what be learned. Colonel Bradley said last week he $250,000 in the Farmers' there. Charles City said that he had $40,000 the that vailed there. Palm Beach county funds were the Bank, but said to safe, being the jections recently raised the recall election, before the resignation city manager, that West not was The the than it could possibly by its closing.

3. March 15, 1927 The Gazette and Daily York, PA

Article from The Gazette and Daily, March 15, 1927

Click image to open full size in new tab

Article Text

Quieter Tone Prevails As Excitement Dies And Depositors Are Satisfied CLOSE AT USUAL TIME West Palm Fla Mar. other than to state it had been the Palm Beaches following number of period of run on bank, sixty are involved the the three prompted companies county abated included in the National Public Serleaving only corporation: Jersey Central short lines of depositors at the Power Light company, Virginia Public Service company Florida of the three banks remaining Power Tidewater Power did They company, Eastern Shore and observed regular hours Electric the Municipal The Citizens announccompany plenty funds had corporation also operates the tained pay every depositor street following mained to meet cities: Wilmington. Youngsall requests for payment Altoona, York and The return normality was aided largely by the arrival from Miami of twelve sacks of currency for the Citizens CARRYING DEADLY The banks which did not open to. day included Farmers bank and WEAPONS CHARGED Trust company. the largest banking here The bank George Boring. 18 years old. Har risburg. committed the York temporarily, announced, the interest of the de. county jail by Justice the Peace positors. plans for reopening the bank Albert on charge within 30 days announced. carrying The First National bank Lake arrested Harrisburg by Constable Worth. and the Ocean bank of Emenheiser Delray, were the other banks which The Grand Fraternity invites its did not open today official statecard ment was issued regarding their dance be held in Koch's closing Garden

4. March 18, 1927 Sedalia Weekly Democrat Sedalia, MO

Article from Sedalia Weekly Democrat, March 18, 1927

Click image to open full size in new tab

Article Text

EVEN TOOK HEAD A FORD Lloyd White of Columbia, report- depositors. The line the police that his dwindled, and roadster had been stolen from continued surge past parking place on East St. Louis street about o'clock Sunday Bank issued bank Later reported found about urged depositors miles north Sedalia officials. near the George Wilkerson stripped. WEST PALM Yesterday Chief of Police Ocean City Jackson and Officer Delray failed open Collins went after the car. making the third finding tires taken radius of miles the windshield, rims morning. bulbs of the headlights, battery and but not least, the head the WEST PALM Ford motor missing only First National pistons the block under Worth, failed hood. Before the officers could doors this morning. return the car town they had banking institution borrow Ford steering wheel so Worth, The First steer in. Company closed known whether Mr. White insurance to cover the loss.

5. December 1, 1930 The Miami News Miami, FL

Article from The Miami News, December 1, 1930

Click image to open full size in new tab

Article Text

BELLE GLADE MAN DIES; KIN SOUGHT WEST PALM BEACH. Dec today sought of Martin hospital here. He Belle Glade Authorities except BANK CLOSES The First National here bank did not open this morning and was made posted notice that the bank had closed pendmerger with the Farmers Bank & Trust DIPLOMAT DIES