First National Bank (Fort Lauderdale, FL)

Episode Information

Episode UID
1202001535
Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
120200 national
Charter Number
12020
Start Date
November 1, 1927*
Location
Fort Lauderdale, Florida (26.122, -80.143)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
10865d71a809baa8

Response Measures

None

Receivership Details

Date receivership started
1928-12-15
Date receivership terminated
1930-06-30
OCC cause of failure
Economic conditions
Share of assets assessed as good
46.9%
Share of assets assessed as doubtful
30.4%
Share of assets assessed as worthless
22.7%

Description

Articles state the bank closed November 1927 and a receiver was active by 1928; official receivership date provided (1928-12-15) conflicts with closure date in the articles.

Events (5)

1. September 23, 1921 Chartered
Source
historical_nic
2. November 1, 1927* Suspension
Cause Details
Bank closed in November 1927 (article states 'the day it closed'); no run described.
Newspaper Excerpt
the mortgage was given by the First National Bank of Fort Lauderdale, November 1927, the day it closed.
Source
newspapers
3. January 10, 1928 Voluntary Liquidation
Source
historical_nic
4. December 15, 1928 Receivership
Source
historical_nic
5. December 15, 1928 Receivership
Newspaper Excerpt
Officials State They Will Not Enter Newspaper Argumentation ... liquidating the affairs of the defunct bank receiver will be guided by the State Comptroller. ... the receiver bank ... Amos' office has already made two examinations the defunct bank's affairs.
Source
newspapers

Newspaper Articles (2)

Article from Fort Lauderdale News, August 4, 1928

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Article Text

BANK Officials State They Will Not Enter Newspaper Argumentation newspaper controversy will be entered into by the Broward Bank and Trust for the defunct Fort Lauderdale Bank Trust answering charges made in petition sent by the depositors protective association the defunct bank the State Comptroller." according officials of the receiver bank this morning. "Practically of the charges allegations made in the two petitions involved officers and stockholders of the former First National Fort Lauderdale Bank and Trust The receiver bank feels that these charges should investigated the highest official the state authority these matters, namely, Comptroller Broward Bank and Trust officials that many the group petitioners comptroller owed the defunct bank excess the amount they had deposit. Depositor's Protective tion reality less than the entire group depositors, small minority group. liquidating the affairs of the defunct bank receiver will be guided by the State Comptroller. group representing two the depositors direct policies this different per cent group may desire different policy later, thus creating endless and not in way the wishes the of depositors. charge that receiver bank compromised court office for $300 absolutely foundation. No such compromise been made. When compromise made or sale publicly recorded office of clerk circuit court, after authority the transaction has been obtained from the comptroller and confirmed the court. assessment of $250,000, full, has been made on the stockholders under present conditions, is being paid to the satisfaction of the the receiver, officers declare. Rent paid by the receiver bank and the attorneys is mensurate every respect space The amount of the rent approved by the Comptroller before was The bank has not granted an audit of the books and not do unless permitted this action by the Comptroller. Amos' office has already made two examinations the defunct bank's affairs.


Article from The Miami Herald, May 1, 1930

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Article Text

PETITION IS FILED ON BANK CLAIMS Receiver For Ft. Lauderdale Institution Asks Settlement. A petition for authority to settle totaling $98,027.93 claims for 79 and bank fixtures was filed in United States District court yesterday by John E. Cunningham as receiver for the First National Bank of Fort Lauderdale. The latter amount and covering expenses of the receivership, making total of $1,834 has been contributed voluntarity by stockholders, the petition sets forth. The largest claim is for $95,707 15 by the Broward Bank and Trust Comas receiver for the pany Fort Lauderdale Bank and Trust Company. This claim is based on $100,000 sory note secured by chattel promis- morton bank fixtures gage given by the First National Bank of Fort Lauderdale, November 1927, the day it closed. The mortgage was given to the Fort Lauderdale Bank and Trust Company and assigned to the Broward Bank and Trust Company as receiver for the Fort Lauderdale Bank and