gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
03944086c360bf1b
Response Measures
None
Description
Multiple articles report heavy withdrawals and the bank failing to open; later reporting implies permanent closure and legal/receiver actions.
Events (3)
1.March 8, 1927Run
Cause
Local Banks
Cause Details
Runs and failure to open at the First American Bank triggered panic withdrawals across Palm Beach banks.
Measures
Armored car dispatched from Miami carrying currency to relieve panicked banks (relief to local banks).
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. 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... the First Bank and Trust company of Palm Beach.
Source
newspapers
2.March 8, 1927Suspension
Cause
Local Banks
Cause Details
Closed after runs began following the failure of First American Bank and Trust to open, and heavy withdrawals in district banks.
Newspaper Excerpt
The First Bank and Trust company of Palm Beach ... closed their doors when the First American Bank and Trust company failed to open this morning.
Source
newspapers
3.March 10, 1927Receivership
Newspaper Excerpt
The sixth bank to close in Palm Beach since June, and the last in the town, has shut its doors. The business day opened, and the First Bank and Trust Co., of Palm Beach did not. Its failure to do so cut off the wealthy residents here from all banking facilities.
Source
newspapers
Newspaper Articles (15)
1.March 8, 1927The Great Falls LeaderGreat Falls, MT
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Article Text
ARMORED CARS drawais by depositors in the past few weeks. More than 500 has been withdrawn from the bank from a peak of $13,500,000 deposits of several months ago. said The First Bank and Trust com. pany of Palm Beach is capitalized at $50,000 and has $100,000 ns sur plus and undivided profits. No rea son was announced for the closing but it is believed that the bank closed in order to forestall a run. The Northwood bank. which serves the northern part of West Palm Beach, is believed to have closed for the same reason Closing of the re-organized First Bank and Trust company of Lake Worth few weeks ago had apparently inspired depositors here to withdraw their accounts in large sums.
Since the beginning of the Christian era less that 50 white lephants have been captured
2.March 8, 1927The Waukesha County FreemanWaukesha, WI
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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.
3.March 8, 1927Pasadena Star-NewsPasadena, CA
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Article Text
BANKS CLOSE IN FLORIDA
Frenzied Run Started in Palm Beach District
WEST PALM BEACH, March leading banks of the Palm Beaches closed their doors this morning started the most frenzied runs the history Florida finance. Midday found streets jammed depositors seeking to their money withdrawing from remaining banks of the city. Runs on the Farmers Bank and the Citizens Bank West Palm Beach such that an armored car dispatched from Miami bearing cash for panicky positors. No sooner had the First American Bank and Trust Company posted notice that business pended for the protection positors than other instituBank and Trust of Palm Beach and First Bank and Trust Company Palm Beach. Heavy withdrawals on all three banks during past eight months unsettled condition affairs this part the state given reasons for the clos-
4.March 8, 1927Springfield Leader and PressSpringfield, MO
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Article Text
One in Palm Beach and Two in West Palm Begin on Two Others.
WEST PALM Fla., March First Bank and Trust company of Palm Beach and the Northwood Bank and Trust West Beach their doors the Bank Trust failed open this Runs began West Beach banks Police charge the crowds the instituand order. Clint Directors First American Mo., Bank and Trust company stated the bank solvent would after The directors stated that they more than legal reserve officers who the North three Palm Beach June, the continued Ridge in real the Grove, the city affairs, the failure the First and Trust weeks Lake Worth sons, continued large depositors in the past few Luana was Tre First Bank and Trust Mrs. for closing that the closed in order to forestall The which of the Palm believed have closed for reason.
5.March 8, 1927Republican and HeraldPottsville, PA
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Article Text
United West Beach, March banks of the Palm Beach district today of the most frenzied runs in the history of Florida finance. found streets jammed depositors seeking money by from the Runs the Farmers' Bank the Citizens Bank West Palm Beach that Miami for panicky No sooner had the First American Bank and Trust Company posted notice that business for the protection depositors other Institutions the Northwood Bank Trust West Palm Beach, First Bank and Trust Company, Palm Beach. Heavy withdrawals all three banks during the past eight months unsettled conditions of affairs in this part were given as reasons for closing.
6.March 8, 1927The Brooklyn Daily TimesBrooklyn, NY
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Article Text
Big Run on Banks in Florida When 3 Close Their Doors
By United Press West Palm Beach Fla. March -Three leading banks of the Palm Beach District closed their doors toand 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 Bank of West Palm Beach such that an armored car was 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 of Palm Beach. Heavy withdrawals on all three banks during the past eight or ten months and unsettled conditions of affairs in this part of the State were given as reasons for the closing.
7.March 8, 1927The Brooklyn Daily TimesBrooklyn, NY
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Article Text
Run on Banks Florida When Close Their Doors
United West Palm March leading banks of the Palm Beach District closed their doors day and started one frenzied runs in the history Florida finance. Midday found streets Jammed with depositors seeking save their money from maining banks the Runs Farmers' Bank and the Citizens' Bank West Palm Beach that armored bearing panicky depositors. had the First American Bank and Trust Company posted notice that for the protection of depositors, than two other institutions Northwood Bank and Trust Company West Palm Beach and the First Bank and Trust Company Palm Beach. Heavy withdrawals on all three banks during the eight months and unsettled conditions of affairs this State the closing.
8.March 8, 1927Progress-BulletinPomona, CA
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Article Text
their money by from remaining banks of the city Runs on the Farmers bank and the Citizens bank of West Palm Beach such that an armored dispatched from Miami bearing cash for panicky depositors. No sooner had First American bank and Trust posted notice that business was suspended for the protection of depositors than two other Institutions closed Northwood Bank and Trust company West Beach and the First Bank and Trust company of Palm Heavy withdrawals on all three banks during the past eight ten months of affairs in this part of the state were given for the closings Long deposit tors during the early afternoon to withdraw savings from banks remaining open. Police kept the lines moving As result of the closing of the First Bank and Trust company Palm Beach was left today without chartered E. M Brelsford. Palm Beach cap. italist and South Florida pioneer was president of First Americas bank, which was the first announce it had Brelsford also an officer of the First Bank and Trust company
9.March 8, 1927The Whittier NewsWhittier, CA
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Article Text
THREE BANKS OF FLORIDA FORCED TO CLOSE DOORS
PALM March leading banks of the Palm Beaches closed their doors this morning and started one of the most frenzied runs the of Florida finance found streets jammed with depositors seeking to save their money withdrawing remaining banks 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 notice that business was suspended for the protection depositors than two other institutions Northwood Bank Trust 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 of affairs this part of given as reason for the closings
CHICAGO WHEAT follows 140 September,
10.March 8, 1927The Hastings Daily TribuneHastings, NE
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Article Text
THREE BANKS CLOSE
WEST PALM BEACH. Fla., 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 withdrawing it 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 deposiNo sooner had the First American Bank Company posted notice that business was suspended for the protection of depositors than two other tions Northwood Bank and Trust of West Palm Beach and the First Bank and Trust Company of Palm Beach.
11.March 8, 1927The Guthrie Daily LeaderGuthrie, OK
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Article Text
ARMORED CAR PREVENTS TWO BANKS CLOSING
Three Others Fail To Open Door Tuesday armored car bearing $2 in currency arrived shortly after ΠΏΠΎΠΎΡ today from Miami to prevent the closing of two local banks following the closing of three other banks today Heavy withdrawals of deposits in the two banks in the pressed belief that the impending closing had been averted by the from Miami The First Bank and Trust Com pany of Palm Beach is capitalized at and has $100,000 as surplus and undivided profits. No reason was announced for the closing but a is understood that the bank closed in order to forestall The Northwood Bank which ser ves the nethern part of West Palm believed to have been clos & for the Closing the reorganized First Bank and Trust Company of Lake few had apparently inspired depositors here to withdraw their accounts in large sums The First Bank and Trust Corn pany of Palm Beach and the Northword Bank and Trust Company of West Palm Beach closed their doors when the First American Bank and Trust Company in Palm Beach failed to open this morning Runs began on three other West Palm Beach banks
12.March 10, 1927Rapid City JournalRapid City, SD
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Article Text
WEST PALM BEACH FACES BANK PANIC
Run on Deposits Follows Close of One Institution
West Palm Beach, Florida, Mar. armored car bearing $2,000,000 in currency arrived here shortly after noon today from Miami to prevent the closing of two local banks following the closing of three other banks today. Heavy withdrawals of deposits in the two banks continued in the early afternoon but bank officials expressed belief that the impending closings had been averted by the relief from Miami. West Palm Beach, Fla., Mar. First Bank and Trust company of Palm Beach and the Bank and Trust company of West Palm Beach closed their doors today when the First American Bank and Trust company here failed to open this morning. Runs began on two other West Palm Beach banks. Police took charge of the crowds that gathered in front of the institutions, and maintained order Directors of the First American Bank and Trust company stated that the bank is solvent and would be opened after reorganization. The First American was capital-
13.March 11, 1927The Daily WorkerNew York, Chicago, NY
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Article Text
LAST PALM BEACH BANK CLOSES UP; SIXTH SINCE JUNE Real Estate Gambling Important Cause PALM BEACH, Fla., March 10.The sixth bank to close in Palm Beach since June, and the last in the town, has shut "its doors. The business day opened, and the First Bank and Trust Co., of Palm Beach did not. Its failure to do so cut off the wealthy residents here from all banking facilities. Nearby, in the town of West Palm Beach, two banks were also defunct, and heavy runs were taking place on the two left. Loans Fail. Three banks have closed here within the last two days, in spite of loans from rich men visiting here, who raised money in an effort to save them. Crowds in front of the buildings were so large that police broke them up. The chief injury to the Palm Beach banks came from the wild land speculations, resulting in inflated values, on which money was lent, and to the wreckage caused by last summer's gale and tidal wave, largely due also to speculation, as the heaviest loss was suffered by hastily built structures, put up of cheap materials to sell at a high price.
14.March 18, 1927Tribune of ShelbyShelby, MT
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Article Text
Florida Has Its Bank Failures
West Palm Beach, Florida, MarchThe Citizens' Bank and the Farmers' Bank and Trust company, survived prolonged runs today and observed their usual 2 o'clock closing hour custom, following the closing of three other banks. West Palm Beach, Fla., March An armored car bearing $2,000,000 in currency arrived here today from Miami to prevent the closing of two West Palm Beach banks following the closing of three other banks today. Heavy withdrawals of deposits in the two banks continued in the early afternoon, but bank officials expressed belief that the impending closings had been averted. The First Bank and Trust company of Palm Beach and the Northwood Bank and Trust company of West Palm Beach closed their doors when the first American Bank and Trust company failed to open this morning. Police took charge of the crowds that gathered in front of the institutions, the Citizens' Bank and the Farmers' Bank and Trust company, on which runs began. Directors of the First American Bank and Trust company stated that the bank is solvent and would be opened after a re-organization. The directors stated that they have more than a legal reserve on hand. The First American was capitalized at $300,000 and a statement issued this morning showed: 'Loans and discounts $3,416,503.52: cash in vault $58,255.35; cash in other
15.September 26, 1930The Tampa TimesTampa, FL
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Bank Collateral Case Appealed by State Treasurer
West Palm Beach, Sept. State W. Knott today took appeal the court in suit whether mortgage, deposited with him collateral by First Bank Trust company Palm Beach, primarily liable for trust claims against failed bank. The appeal taken from circourt here demurrers filed Knott, State Comptroller Amos and the Florida Bank and Trust company, liquidator the First American, in suit brought Morris, trustee for an and appointment receiver take trust of the closed also denied Morris' petition in the Owing the importance of the case, general's office seeking to have advanced on the supreme court cording word received here interested officials
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
