2614. Bank of Wildwood (Wildwood, FL)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
July 1, 1930*
Location
Wildwood, Florida (28.793, -82.012)

Metadata

Model
gpt-5-mini
Short Digest
7d2d7810

Response Measures

None

Description

Bank was under charge of the state bank examiner for about three weeks and has been recapitalized by a double stock assessment; articles report the suspended bank will reopen on July 27, 1930 with depositors' funds accessible. No run is described in the texts.

Events (2)
1. July 1, 1930* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank had capital deficiency which required being re-established; state bank examiner placed institution in charge and it was closed for about three weeks pending recapitalization by a double stock assessment.
Newspaper Excerpt
the institution for the charge last three weeks...the suspended Bank of Wildwood
Source
newspapers
2. July 27, 1930 Reopening
Newspaper Excerpt
tomorrow morning the suspended Bank of Wildwood will be open for business again as usual...Announcement that the bank would reopen was made by Sherman Drawdy, state bank examiner, in charge of the institution for the last three weeks. The bank's capital has been thoroughly re-established by double stock assessment. ... O. L. McRae was elected president.
Source
newspapers

Newspaper Articles (3)
1. July 28, 1930 The Palm Beach Post West Palm Beach, FL
Article from The Palm Beach Post, July 28, 1930

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Article Text

Wildwood, July day of thanksgiving in Wild wood Bank of Wildwood will suspended open for business again Announcement that the bank would was made by Sherreopen Drawdy, bank examiner, the institution for the charge last three weeks. bank's capital has been re-established double stock assessment and the stockholders, about represent this entire communreopening considered usual individual positors will find their subject the manner the bank pended. None the "frozen" frequently the reopened banks. the bank elected stockholders' meeting Saturday night. McRae electpresident. SIX JAILED FOLLOWING ATTACK ON Mobile, July men woman under here tonight charged attack Deputy Faulk Alf who were injured they sought stop disturbance hall, 14 miles Mobile today. Those arrest George Murphy, 24, Joseph Murphy, Harvey Raymond Des 40, Hutton, man Dodge and Rena The deputies are in pital here.

2. July 28, 1930 Pensacola News Journal Pensacola, FL
Article from Pensacola News Journal, July 28, 1930

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Article Text

Wildwood's Bank To Reopen Today WILDWOOD, Fla., July 27.-(P)Sunday was day of thanksgiving in Wildwood, because tomorrow morning the suspended Bank of Wildwood will be open for business again as usual Announcement that the bank would reopen was made by Sherman Drawdy, state bank examiner, in charge of the institution for the last three weeks. The bank's capital has been thoroughly re-established by double stock assessment. and the new stockholders, about 70 in number, represent this entire community. The reopening is considered unusual in that the individual depositors will find their subject to withdrawal in the same manner as before the bank suspended. None of the money on deposit is "frozen," as is, frequently the case in reopened banks. Officers of the bank were elected at stockholders meeting last night. O. L. McRae was elected president.

3. July 28, 1930 The Atlanta Constitution Atlanta, GA
Article from The Atlanta Constitution, July 28, 1930

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Article Text

Florida Bank Reopens With Deposits Intact W WILDWOOD. Fla., July 27.-(P) ildwood because day of thanksgiving in suspende Bank of will open for as usual Announcement that the bank would reopen made by Drawstate bank examiner. in charge of The for the last three weeks. bank's capital has been thorreestablished double stock the new stockholders. this about 70 in number, repreentire The reopening is considered unusual in that the individual depositors find their accounts subject to the same manner before the bank None of the money deposit is "frozen" frequently the case in reopened Officers of the bank were elected meeting last night. McRae was elected president.