Alabama National Bank - Birmingham, AL

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 3587
Charter Number: 3587
Start Date: January 1, 1893*
Location: Birmingham, Alabama (33.521, -86.802)

Metadata

Model: gpt-5-mini
Short Digest: 137a8662

Response Measures

Public signal of financial health

Other: Run was averted by a prominent depositor's public speech and display of certificates of deposit.

Description

Article recounts a run on Alabama National Bank during the Panic of 1893 that was checked when a depositor (S. Leith) publicly vouched for the bank; there is no indication the bank suspended or closed.

Events (3)

1. November 10, 1886 Chartered

Source: historical_nic

2. January 1, 1893* Run

Cause: Macro News
Cause Details: Run occurred during the nationwide Panic of 1893 (systemic panic) which provoked heavy withdrawals from the bank.
Measures: A prominent depositor (S. Leith) publicly vouched for the bank, displayed certificates of deposit and gave a speech that calmed depositors and checked the run.
Newspaper Excerpt: When the Panic of 1893 struck Alabama National Bank... a severe run by depositors... he addressed the gathering and persuaded it to scatter... the run on the bank was checked immediately.
Source: newspapers

3. January 10, 1905 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. May 29, 1930 The Pittsburgh Press Pittsburgh, PA

Article from The Pittsburgh Press, May 29, 1930

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Article Text

Sidelights W. Clyde Nesbitt, Now With Dollar Savings, Has Book of Other Days. Samuel Bailey, Jr., President of Institution, Impressed by Contents. Financier Relates Story at Convention of Bankers Association. How Run on Alabama National Was Averted by Depositor From North. By WILLIAM R. MITCHEL ECENTLY the attention of R Samuel Bailey Jr. president of the Dollar Savings Bank"the only mutual savings bank in Pittsburgh of around $47,000,000. was directed to bound volume of BoundVolume The Pittsburgh Is Interesting Banker magazine published here "a third of a century ago. So interesting did some the things to him that Mr Bailey told us about them shortly after It seems, first of all. the volume is the property W Clyde Nesbitt. now with the Dollar Savings Bank For many though. Mr. Nesbitt with the Marine National Bank of which J. S. Brooks was president He went over the Third National when Marine was absorbed by that a couple of did Mr Brooks Two or three ago he transf over to the Dollar Savings Bank bringing the volume along with him, and showing it to Mr. Bailey By the way. it is Volume VII of the was distributed with the compliments of Stoney, Jr. banker and broker THE JANUARY 1896, issue (old No 34, 4) is the account of An Incident of the Panic, which Mr Bailey called our special attention When the panic (of 1893) was When the Panic height the of 1893 Struck Alabama National Bank many other strong establishments throughout enced a severe run by depositors. Recalling the panic at a conventhe American Bankers Association the turn of the year into 1896 in Atlantic City which many Pittsburgh bankers naturally- banker were from Birmingham enlightened the as to how the Alabama was by the action of S. Leith. passenger for the Queen and Crescent. Mr Leith happened to be deposttor the Alabama National, the story goes One day he received orders report at Cincinnati, and as he being absent several weeks he went to the bank to draw on his account, a substantial one for those times PON HIS arrival at the institution he found crowded. the line of depositors extendthe and increaseach minute Sizing up the siting uation glance He Found Line Mr Leith realizof Depositors ing the seriousof the consequences. unless the depositors were calmed decided to address the gathering and persuade it to scatter Gentlemen. he said when he could make himself heard, "this bank perfectly solvent: you know President Nelson and Cashier Porter to be honorable men. But can tell you there isn bank in the United States that would be able to pay all its depositors on moment's notice. Most of this bank's money is loaned out to your own business men who you work and wages, and help to make your town prosperous. If you your bank to call in this money to pay each of you off at once will be throwing yourselves out of and business will the dogs To this some of the crowd listened and decided to heed but there was considerable unrest among others in line No one made move, though. to break it up, as yet. HEN HE DECIDED upon anT other "See this!" he exclaimed. tapping the G. A R. button on the lapel of his coat "When I was down here in 63 at the head of my Points to G A. R. Ohio company of Button on Lapel volunteers we were fighting against you because we were afraid back our words with our lives You were equally gallant, then The war over. and now we are ready to back up our confidence in W Southern bank in Southern gentlemen, our money Look at these suddenly displaying several ficates of deposit. know what they are Well. came here intending to have them cashed, because am about to leave for the North Now am going to show you a Yank who has more faith in the Alabama National Bank and its officers than any man among you. "There," replacing the certificates Std in his pocket In an hour will be off for Cincinnati. do not know Gt whether I ever shall return. and am leaving here all the ready cash possess world, because know the bank with which I have been That shot hit home of course. and stirred the pride the men in line inspired by the genial "Yank It is needless to the run on the bank was checked inmediately While the institution might have withstood the ordeal in spite of all certainly it was saved considerable if not And tomorrow will be Memorial Day