First National Bank of Commerce (Tarpon Springs, FL)

View Charter #12274 on SPMC View balance sheet

Episode Information

Episode UID
1227401600
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
122740 national
Charter Number
12274
Start Date
April 8, 1933
Location
Tarpon Springs, Florida (28.146, -82.757)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
cac85a3d319f8a11

Response Measures

None

Receivership Details

Depositor recovery rate
67.0%
Date receivership started
1933-10-26
Date receivership terminated
1937-08-13
Share of assets assessed as good
48.0%
Share of assets assessed as doubtful
44.2%
Share of assets assessed as worthless
7.8%

Description

Receivership and dividend distribution in 1934 confirm permanent closure.

Events (6)
1. November 18, 1922 Chartered
Source
historical_nic
2. April 8, 1933 Other
Newspaper Excerpt
NEW NATIONAL BANK...First National Bank Tarpon Springs will enable institution pay off in full all depositors present bank. charter for the bank will applied soon the stock bank immediately afterwards.
Source
newspapers
3. October 26, 1933 Receivership
Source
historical_nic
4. October 26, 1933 Suspension
Cause
Government Action
Cause Details
Bank was placed in the hands of a receiver (government-appointed liquidation/receivership).
Newspaper Excerpt
Charles I. Dwiggins, receiver of the National Bank of Commerce at Tarpon Springs...
Source
newspapers
5. May 16, 1934 Other
Newspaper Excerpt
Dwiggins is to be liquidator for the First National bank here...receiver of the National Bank of Commerce at Tarpon Springs
Source
newspapers
6. July 13, 1934 Other
Newspaper Excerpt
W. Craig, clerk for the receiver of the defunct First National Bank of Commerce, received several hundred dividend checks...first dividend of 25 percent declared by the bank receiver.
Source
newspapers

Newspaper Articles (3)
1. April 8, 1933 The Tampa Times Tampa, FL

Article Text

Grapefruit Growers Urged to Sign Up in Marketing Campaign Winter Haven, April special grapefruit marketing mittee working through the Clearing House dispatched letter all shippers and growers, signed the contract, urging them join with the cent in the The letter states the keting program being handled purpose that of endeavoring bring fair turn grapefruit committee intends publish April list all shippers have joined this movement" who have not. The committee consists Mouser, Orlando, chairman: Woolfolk, Lawrence Gentile. Commander, the Florida Citrus Exchange, and W. Roe, Winter Haven. Next week's allotment been placed at not exceed 600 cars. NEW NATIONAL BANK. stock has subscribed 000 the new bank for "Sponge known First National Bank Springs, that will held subscribers, other fifty per by the tion Organization First National Bank Tarpon Springs will enable institution pay off in full all positors present bank. charter for the bank will applied soon the stock bank immediately afterwards.

2. May 17, 1934 The Tampa Tribune Tampa, FL

Article Text

New Polk Bank Receiver Prepares To Take Charge LAKELAND, May 16.-(Special) Charles I. Dwiggins, receiver of the National Bank of Commerce at Tarpon Springs, who has been named receiver of four closed national banks in Polk county, was here today to check over his new duties with J. C. Shelton, who has resigned because of ill health. Dwiggins is to be liquidator for the First National bank here, the First National in Auburndale, the Polk County National at Bartow and the Snell National at Winter Haven.

3. July 14, 1934 The Tampa Tribune Tampa, FL

Article Text

CHECKS FOR DEPOSITORS TARPON SPRINGS, July 13-(Special. W. Craig, clerk for the receiver of the defunct First National Bank of Commerce, received several hundred dividend checks from Washington today for distribution on the first dividend of 25 percent declared by the bank receiver. These checks are for claims not proven early enough to be included in the first distribution and include claims made between May 8 and June 15.