First National Bank (Miami, FL)

Episode Information

Episode UID
637001291
Episode Type
Run Only
Bank Type
national
Bank ID
63700 national
Charter Number
6370
Start Date
July 1, 1907*
Location
Miami, Florida (25.774, -80.194)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
b054083342afc2e6

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Clearinghouse loan, Public signal of financial health

Clearinghouse involved: Yes (loan, examination, or other measures)

Description

Articles describe separate run episodes (1907 and 1926) affecting the First National; no clear suspension of this bank is reported.

Events (3)

1. August 8, 1902 Chartered
Source
historical_nic
2. July 1, 1907* Run
Cause
Correspondent
Cause Details
Currency/vaults in Jacksonville closed and difficulty obtaining specie/clearing, precipitating withdrawals
Measures
President brought cash back to Miami and bank paid depositors; kept open to meet demand
Newspaper Excerpt
we had a 'run on our bank
Source
newspapers
3. July 3, 1926 Run
Cause
Local Banks
Cause Details
Embarrassment precipitated by failures/suspensions or distress of suburban Miami banks, prompting withdrawals from other local banks
Measures
Miami Clearing House/officers arranged loans and funds; banks announced they could cover all deposits and extended hours to restore confidence
Newspaper Excerpt
The run subsided shortly after when officers announced funds sufficient to cover every depositor
Source
newspapers

Newspaper Articles (5)

Article from The Pensacola Journal, July 14, 1907

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Article Text

By the State NEWS AND VIEWS Press All Work Together. newspaper men to the substantial eximprovements are sometimes slow cellence and progressive spirit of our veloping. Sometimes there are solid, growing little city of Live Oak. ss-backs who stand in the way of Editor McCreary of the Gainesville progress. Sometimes people Sun is the last to come forward with old-fashioned ideas which will his tribute and it is characteristic of permit of advancement, and the the man-frank, clear, honest, comis that the good roads moveprehensive and right to the point, is no exception to the rule, and with no frills on it, refreshing, sentimes a community suffers for sible, and without a trace of flattery because of the want of enterin it. Mr. McCreary doesn't find our of its original citizenship.-We city "pretty" because some of the that Duval county will not have buildings on the business streets are an experience. We are confinot in line with the others, but as a that every citizen, from the least matter of fact that can be said of the greatest, the richest to the very few of them, uniformity being will all work hand in hand the rule in nearly all of the commerside by side to develop the good cial district. But barring this minor in this county. The good roads objection, the Sun editor finds us all vement is a development. One right and does us justice.-Live Oak of good roads means two more. Daily Democrat. miles of good. roads means four more, and so on. The only The Miami Way. necessary is to get the comThe people of Miami have shown sentiment of the entire comthemselves fully equal to a grave pubin favor of the movement. lic emergency and deserve very high accomplished, all the rest folpraise for not doing what so many as surely as the day follows other people, less intelligent and wellht.-Jacksonville Metropolis. balanced, have done under like circumstances and wrought widespread Have Their Share. injury to the community in conseFive mills is a pretty heavy road quence. The other day a prominent especialiy to those in the north Miami bank suspended and was deof the county, who, up to the clared insolvent. Prompt notice was time, have derived very little given that the other local banks were from the sums they have connot materialy affected by the failure, to the various funds of the but doubtless if the panic spirit had in public improvements, and it prevailed and the example of a few nothing but natural they should timid and nervous souls had been folto such a levy. lowed, a general run on the other The Metropolis believes in good banks might have been precipitate and while it wants to see as and they might have been found improvements as possible in without enough cash to meet the unend of the county, it also wants expected demand of every depositor. see the same thing in the north This would have been a terrible blow because the people of that part to Miami, not in the least degree entitled to it. Had they received chargable to the banks, but to a in the matter of public impanic-stricken herd of depositors who vements and expenditures the had lost their good judgment and division movement would very were insisting. upon an unreasonable have not been created. demand. But the people of Miami the five mills levy prevails, they were not that kind. They rΓ₯llied be given assurances, and then around the two, banks whose solvency that their full quota of the aswas unquestioned, no rΓΌn was made, will be spent in their imand, to show their entire confidence, vicinities. Otherwise harthey even increased their deposits. In cannot prevail, and other trouthis way they saved their, banks and complications-may arise. their city from a great disaster, and Metropolis. that, too, without making any sacrifice. or incurring the slightest loss, or Grapes--? risk, but simply by exercising good 'alk about graft, talk about bosscommon sense and refusing to get corporations and favoritisms. excited in the presence of an emerTallahassee Sun has that soft gency. Even one man who keeps his that no paper ever had in Florhead and does the right thing at a net even during the Sterns recritical period is a big asset in a comMican administration back in the munity, but when there is a town full 70's. It is certainly a melon of them, as seems to have been the ting time for the editor of the Talcase in Miami, that town is wealthy Sun.-DeLand Record. beyond computation, in the character of its citizenry and there can be no ht Sort of Spirit. doubt of its future.-Live Oak Democontinue to get unsolicited crat. timonials from visiting Florida


Article from The Montgomery Advertiser, July 3, 1926

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Abe Martin Savs: was precipitated after receipt of news of the but was met through the receipt of funds from Miami banks The run subsided shortly after when officers announced funds sufficient to cover every dePresident George Romh, of the MI. ami Clearing House in on the of suburban declared that outside control and loans on paper solely were responsible for the embarrassment. "The banks of Miami today are in an impregnable Clark B. Davis, president of the City National Bank and Trust company declared, "each of the banks today Is operating entirely on its own capital, thing of which few banks in any part the country can boast. And although such a condition is inconceivable, if there was demand of depositors made upon these banks, we could pay every dollar of the liabilities faster than the depositors could carry it away.


Article from The Gazette and Daily, July 3, 1926

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FLORIDA BANKS IN (Continued from First Page) extent Local citizens work. and details to organize locally for speedy liquidation and to relieve the Bank Buena Vista opened October with capital stock which raised include heading board Sanders president Institution In Good Shape The Bank Little River through President Teed announced : feel and desirable suspend perations present sound shape excess cash in our vaults reserve greater than think the He his of (ecting President Parker Bank immediately be made the reopen shortly and meet all Bank Hollywood previous through funds Miami banks The run cers sufficient deposit President George Romfph the association suspension three suburban banks, declared that loans outside solely were responsible for the


Article from Portland Press Herald, November 20, 1926

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Florida Staging Great Come-Back Declares Spear Reports Of Property Loss Greatly Overdrawn, Representative States adequate and cheaper transservice and reduced hotel apartment house rates will grow out of the adjustment conditions in Florida following the great storm of September 18." Arthur Gilman Spear Friday. Mr. Spear has just turned from of several weeks Florida, where he har been looking after his business interests in Miami. "Reports of property destruction have been but greater loss of life than was carried in any the reports," Mr. Spear fact," he, is doubtful ever knows exactly how many lives were lost. as many ventured out after the full between the first and second storm from roads and into the water and the'r bodies either 80 dis. figured as never to be He quoted Miami newspaper man telling him that he assisted in drag. ging 11 bodies from the water, the larger number of which were never ravages the storm are being rapidly repaired," Mr. general feeling that the Winter will be wood as ever. although some doubt the extent of activities. He quoted Edward Romfh, mayor Miami and president of the First Bank that the gamble real that would be years before the financial caused by over optimism real estate deals and by the storm would be ad"Reports that Hollywood was most destroyed not said Mr. "The place still shows results of the havoe by the wind and rain. and giving having been although work of restoration is continually going Fort Lauderdale there were less evidences the storm to than and at Miami less Fort when 1 came 30 days after the Mr. Conditions Nearly Normal were nearly normal on Street, the principal business street Miami. roofs, and automobile tops had left the outskirts the city On the outskirts Coral Gables there were still evidences of Crews negroes, however, had reset the palms trees that had/ been stroyed and piled, giving the appearance of Jumbering "Both the causeway and the Veneway from Miami Beach been badly damaged by the storm but they were rendered will be as good as before, "The North Beach is not likely be very active this the roads filled with sand, the roof of the easino and damage done there, The Roney Plaza Hotel and damaged. Casino, five miles farther north badly damaged and from North Beach Douville the roads choked with sand and debris. damage was done the South it be for days. The million pier completed its Carter says that will be ready for operation in from days. "The Pancoast Hotel between North Beach Douville will opened The building considerably damaged by washed and corner of the Hotel Slightly Damaged "The Carl Fisher including the Flamingo and the Nautilus. the side the Beach. facing but Mr. Spear told the strong stand Mayor Romfh of Miami "There run on his bank, The First National, for few, days after the storm. In order that strong and gain the confidence the people kept open one longer day than the regular banking hours. the stopped five The banking difficulty learn the exact value of negotiable paper that transportation companies much Florida, that the Air Line and other bettering their and trackage with the result that as freight and provisions are very much better soon and atten. likely to be given to agriReferring to between the Red Cross and the and political the extent the storm and the need Mr. Spear said that he lieved If had been kept out the two weeks longer, Red its the Red vast of work with the money its disposal, giving rise to that probably spent money from Its general funds that was raised. Mr. that he he found taking great deal in the special senatorial election Maine, taking courage the previous general election and the hope that they might declared Florida the deal help from the federal government for their business projects in the of the country two years while the opinion that there would be equally well served with Republicans found for Smith for President in 1928 among the Florida


Article from The Miami News, August 13, 1933

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Romfh, Colorful Dependable Figure in Community's Life Winning nation-wide fame by his quiet, unassuming, yet always pendable work. Miami's "eocklebur country banker, Ed C. Romfh, president of the First National bank. is one of the city's most outstanding personalities. His whimsical humor. his reliable banking methods and the atmosphere of solidity about him have developed in the minds of people everywhere a sense of reliance. His sureess these recent years of banking this dies has been a beacon of light will ming approval of the country's lead talked of early this year 101 the post of secretary of treasury More than anything else, perhaps. it was Romfh's unruffled reaction to His refusal to consider the problem as anything more than : temporary measure for inevitable improvement ⑉ banking had a powerful steadying influence 1. mayor of Miami during the time when the 1926 hurricane struck. be inspired confidence in the city through this selfsame quality of looking for The story of his life has been Told many times. One of the most abous ing sketches of his eareer he told himself, at a meeting of the Miami Beach Committee of 100 last year. Ed Romth came to Miami in 1898. when the city was filled with Spanish "My brother asked me if knew anything about banks and banking. he said in his Committee of 100 talk "and told him all knew was how to THE a boat. how to hunt and how to fish a little but I got the job. and The embryo banker was only 19 then, but he kept faithfully an his job of keeping books for three and a half years. In December. 1902. the First Na tional bank opened. with Ed Ronth president, and the capital was in In 1921. business had grown much a new building was needed. the present one was selected, Miami's late boom in 1925 brought heetic days. Mr. Romth recalls, Then came the collapse, which experience taught him would follow those above normal days. But through it all. Ed Romth remained the same reliable country banker he always had been. Phere have been other patries 111 the of Mr. banking years 1907 The Fort Dallas National bank. had erected the building in which Bank of Bay Biseayne was " tioned and William Brown was president +1 the Fort Dallas and the Bank of Ban "The TWO national lanks. block apart in a town TWo blocks long. were undergoing the periodic examination by national bank examiners early in "I had reason to believe that the to be prepared for any possible trouble went to Jacksonville the night of July was a holiday, the vaults in Jacksonville were closed and it was hard to get much enrrency. but assembled all I could. rede a day each back To Miami with $13,000 111 pared for business on the fifth when we had a 'run on our bank That history of this bank that Eye been was elimaxed by the First National bank in St. Augustine paying off Mi instead of eash. The bank Was per We couldn't find here the