Bradenton Bank & Trust Company (Bradenton, FL)

Episode Information

Episode UID
63010971555
Episode Type
Run → Suspension → Closure
Bank Type
trust
Bank ID
6301097 routing
Routing Number
63-0109
Start Date
July 17, 1929
Location
Bradenton, Florida (27.499, -82.575)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1aa8c2385ac3b210

Response Measures

None

Description

Closings described as precautionary and subsidiaries placed in state banking department; directors predicted depositories would go out of business.

Events (1)
1. July 17, 1929 Suspension
Cause
Rumor Or Misinformation
Cause Details
State officials and bank directors blamed unwise gossip, propaganda and alarm linked to the Mediterranean fruit fly leading to heavy withdrawals and runs elsewhere that forced the bank to close.
Newspaper Excerpt
The branches affected were: ... Bradenton Bank and Trust Company; ... failed to open their doors today.
Source
newspapers

Newspaper Articles (13)
1. July 17, 1929 The Austin Daily Herald Austin, MN
Article from The Austin Daily Herald, July 17, 1929

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BANK AND NINE BRANCHES CLOSE Florida Fruit Fly Blamed; Depositors May Not Lose Money Tampa, Fla., July 17 (/P)-Fourteen state banks in southwest Florida closed their doors today, bringing to twenty-three the number of financial institutions to fail within the state in the past two weeks. Tampa, Fla., July 17 (AP)-The Citizens Bank and Trust Company, a state institution, and nine subsidiary banking institutions failed to open their doors today. Besides-the Citizens four of the depositories were in Tampa. Notices posted at the Citizens bank by a state bank examiner said the institution was in his hands. The branches affected were: Run On One Bank The Bank of Ybor City on which a run was made Monday. The Lafayette Bank; Citizens Nebraska Avenue Bank; Franklin Bank and the bank of Plant City; Bradenton Bank and Trust Company; First Bank and Trust Company, of Sarasota; First State Bank of Fort Meade, and the Bank of Pasco county at Dade City, The board of directors of the Citizens Bank and Trust, at a meeting early today issued a statement explaining conditions as due to "unwise gossip and continued adverse conditions following the appearance of the Mediterranean fruit fly which was responsible for a*feeling of unrest and fear developed on the part of the Predict Full Payment The directors predicted all depositors would be paid in full and that the depositories would go out of bustness. Among the larger branches were the Citizens Bank and Trust with paid in capital of $1,000,000 and deposits in excess of $3,000,000. and the bank of Ybor City, paid in capital of $200,000 and deposits of $2,679,237.69

2. July 17, 1929 New Britain Herald New Britain, CT
Article from New Britain Herald, July 17, 1929

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Five of Institutions in TampaFruit Fly and Apathy Blamed by Officials BRINGS LIST OF FAILURES IN PAST 2 WEEKS TO 18 Board Issues Statement Saying "Unwise Gossip" and Insect Cause of Difficulty-State Comptroller Says Unnecessary Withdrawals and Propaganda Contributing Causes. Along With Mental Attitude. Tampa, Florida, July 17 (AP)-The Citizens Bank & Trust Company, a state institution and nine other subsidiary banking institutions, failed to open their doors today. Besides the Citizens, four of the depositors were in Tampa. Notices posted at the Citizens bank by a state bank examiner said the institution was in his hands. The branches affected were: The Bank of Ybor City, on which a run was made Monday, the Lafayette bank the Citizens' Nebraska Avenue bank, Franklin Bank and the Bank of Plant City, Bradentown Bank and Trust company, First Bank and Trust Company of Sarasota, First State Bank of Fort Meade, and the Bank of Pasco County at Dade City. Examiner at Institution E. P. Jackson, state examiner, has been here since Monday checking up on conditions. Captain R. A. Gray, assistant to the state comptroller, was expected from Tallahassee at noon to take charge. The board of directors of the Citizens' Bank & Trust, at a meeting today. issued a written statement explaining conditions as due to "unwise gossip and continued adverse conditions following the appearance of the Mediterranean fruit fly which was responsible for a feeling of unrest and fear, developed on the part of the people." Hope to Pay Depositors The directors predicted that all depositors would be paid in full and that the depositories would go out of business. Paid in capital of the Citizens' Bank and Trust was given as $1.000.000 in the published statement of the bank as of June 29 last and deposits as in excess of $3,000,000. John T. Bize is cashier: L. A. Bize, chairman of the board and D. L. Aney is president. Paid in capital of the Citizens' Nebraska avenue was $50,000 with deposits of $182,650.88, according to published statements, The Lafayette Bank had paid in capital of $150,000 with deposits of $457,222.65; the Bank of Ybor City paid in capital was $200,000 and deposits of $2,679,237.69 and the Franklin bank's paid in capital was $50,000 with deposits of $322,986.87. according to statements of conditions of June 29. Figures for other branches involved were not available immediately.

3. July 17, 1929 The Bismarck Tribune Bismarck, Mandan, ND
Article from The Bismarck Tribune, July 17, 1929

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TEN FLORIDA BANKS CLOSE THEIR DOORS; FRUIT FLY BLAMED Depositors : Will Receive Payment in Full, Directors of Closed Houses Say Tampa, Fla.,* July 17.-(P)-The Citizens Bank and Trust company, a state institution. and nine subsidiary banking institutions failed to open their doors today. Besides the Citizens bank, four of the depositories were in Tampa. Notices posted at the Citizens bank by a state bank examiner said the institution was in his hands. The branches affected were the bank of Ybor City on which a run was made Monday; the Lafayette bank; Citizens Nebraska Avenue bank; Franklin bank and the bank of Plant City: Bradenton Bank and Trust company: First Bank and Trust company. of Sarasota; First State Bank of Fotr Meade, and the Bank of Pasco county at Dade City. The board of directors of the Citizens Bank and Trust, at a meeting early today issued a statement explaining conditions as due to "unwise gossip and continued adverse conditions following the appearance of the Mediterranean fruit fly which was responsible for s feeling of unrest and fear developed on the part of the people." The directors predicted all depositors would be paid in full and that the depositories would so out of business. Among the larger banks were the Citisens Bank and Trust with paid in capital of $1,000,000 and deposits in excess of $3,000,000 and the bank of Yhor City, paid in capital $200,000 and deposits of $2,679,237.00.

4. July 17, 1929 Brownsville Herald Brownsville, TX
Article from Brownsville Herald, July 17, 1929

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tion The branches affected were: The Bank of Ybor City on which a run was made Monday, The Lafayette bank; Citizens' Nebraska Avenue bank: Franklin bank and the Bank of Plant City: Bradentown Bank and Trust company, First Bank and Trust company of Sarasota; First State bank of Fort Meade and the Bank of Pasco county at Dade City. E. P. Jackson, state examiner, has been here since Monday checking up conditions. The board of directors of the Citizens Bank and Trust, at a meeting today issued a statement explaining conditions as due to "unwise gossip and continued adverse conditions following the appearance of the Mediterranean ily which was responsible for a feeling of unrest and fear developed on the part QE the people."

5. July 17, 1929 Evening Star Washington, DC
Article from Evening Star, July 17, 1929

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14 SOUTH FLORIDA BANKS ARE CLOSED Total Failures in Past Two Weeks Reaches 22, With Collapse of Chain. By the Associated Press. TAMPA, Fla., July 17.-Fourteen State banks in Southwest Florida closed their doors today, bringing to 23 the number of financial institutions to fail within the State in the past two weeks. Following the closing of the Citizens' Bank & Trust Co. of Tampa and nine subsidiary institutions here and in nearby counties today, it was learned that five other banks in this territory also had failed. Total deposits in the Tampa banks involved was $17,347,968.15, of which the Citizens' Bank & Trust held $13;695.870.78. Total assets of the Tampa banks were $22,927,003.36. The institutions placed in the hands of the State banking department today were: The Citizens" Bank & Trust Co., Tampa Franklin Bank, Tampa. The Lafayette Bank, Tampa. American State Bank, Tampa. The Citizens' Nebraska Avenue Bank, Tampa. The Bank of Ybor City, at Ybor City, on which there was a run Monday. The Bank of Plant City, Plant City. The Bradenton Bank & Trust Co., Bradenton. The First Bank & Trust Co., Sarasota. First State Bank of Fort Meade. The Bank of Pasco County, Dade City. First Bank of Port Tampa City. Bank of Mulberry, at Mulberry. Ellenton State Bank, Ellenton. Other institutions which have closed their doors within the past two weeks are: Peoples State Bank, Jacksonville. Volusia County Bank & Trust Co., Deland. First National Bank, Deland. Colonial Bank & Trust Co., Miami. Merchants' Bank & Trust Co., Daytona Beach. Atlantic Bank & Trust Co., Daytona Beach. First National Bank, Sanford. Merchants' Bank, Melbourne. Capital and surplus of the 15 institutions that closed today, according to figures released by the State banking department, totaled $3,890,000. Deposits aggregated $22,283,963.61 and assets $29,679,107.51. Deposits of the eight banks which failed during the two weeks prior to today were estimated at $10,800,000, bringing the total deposits tied up in bank failures to date at $33,083,963.61. E. P. Jackson, State examiner, has been here since Monday checking up on condition. Capt. R. A. Gray, assistant to the State controller, was expected from Tallahassee at noon to take charge. The board of directors of the Citizens' Bank & Trust Co. predicted that all depositors would be paid in full and that the depositories would go out of business. EXPLAINS BANK FAILURES.

6. July 17, 1929 The Brownsville Herald Brownsville, TX
Article from The Brownsville Herald, July 17, 1929

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Is Fruit Fly Caused Bank and Trust company, Citizens' TAMPa. July institutions, to subsidiary banking state institution, and nine their doors today. open in Tampa. Notices of the depositories were Besides the Citizens, four said the institubank examiner Citizens' bank by state posted nt the was in his hands. affected were: The TO ROME? The Bank of Ybor City on which was made bank: Citizens' The Franklin braska Avenue the Bank of Flant City: Bradentown Bank and Trust company. First Bank and Trust company State bank of Fort Meade and Bank of Pasco coun-: Dade City. Jackson, state examiner, has been here since Monday checkup conditions. ing directors of the The board Citizens Bank and Trust, meetissued statement today conditions due to and continued adverse gossip following the appearance conditions Mediterranean which was the feeling of unrest responsible for on the part of and fear developed the people.'

7. July 17, 1929 Tallahassee Democrat Tallahassee, FL
Article from Tallahassee Democrat, July 17, 1929

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Twelve South Florida Banks Fail to Open Doors Today King's Last Appearance Before Operation Demands of Heavy Depositors Force Closing ACTION INVOLVES FORTY MILLIONS Closing Does not Reflect Bad Business, Comptroller Says Twelve banks in south Florida failed to open their doors today, according to Comptroller Ernest Amos. who was advised by wire that unusually heavy demands on the part of depositors in number of communities had forced the closing of the Citizens Bank and Trust company of Tampa and five other financial institutions in Hillsborough county, as well as six member banks in other sections. Stood Runs Tuesday The twelve institutions, some of which withstood heavy runs during Tuesday and which failed to open for business this morning, are the Citizens Bank and Trust company, the Citizens Nebraska avenue bank, the Franklin bank. and the Lafayette bank, of Tampa; the First State bank of Port Tampa; the Bank of Ybor City: the BradenBank and Trust company of Bradenton: the First Trust pany of Sarasota: the First State Bank of Fort Meade: the Bank of Plant City: the Bank of Pasco County, Dade City, and the Bank of Mulberry. It was said that more than forty million dollars are involved in deposits of the twelve banks which failed today. Gray Goes to Scene Captain R. Gray, assistant to Comptroller Amos, left last night for Sanford and other South Florida points to assist in the situation now confronting the banking department Mr. Amos declared today that closing of the banks did not flect any unusually bad business conditions and said that undue alarm on the part of depositors who had begun to draw their money hurriedly had brought about runs which could not be stopped. The Citizens Bank and Trust company at Tampa was operatunder legislative charter granted many years ago, said. and virtually all the other eleven banks which closed their were member banks. doors

8. July 17, 1929 The Daily News-Journal Murfreesboro, TN
Article from The Daily News-Journal, July 17, 1929

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TWELVE FLORIDA BANKS CLOSE DOORS Large Tampa Institution Newest To Fail; $6,500,000 Deposits Tallahassee, Fla., July 17.-(INS)Twelve banks with forty million dollars in deposits failed to open in South Florida today, according to State Comptroller Ernest Amos. Amos also declared that many other banks had withstood heavy runs Tuesday. The failures, according to the comptroller, are not due to business conditions, but to "undue and uncalled for alarm.' The banks which failed to open today, according to Amos, are as follows: Citizens Bank and Trust Company of Tampa, parent of others, including the Citizens Nebraska Avenue Bank, Tampa, the Franklin Bank, Tampa, the Lafayette Bank, Tampa, the Bank of Ybor City, the First State Bank at Port Tampa, the Bank of Mulberry, the Bank of Pasco County at Dade City, the Bank of Plant City, the First State Bank at Fort Meade, the First Trust Company at Sarasota, and the Bradenton Bank and Trust Company. Run On Ybor Bank. The others are: the Bank of Pasco County at Dade City, the First Bank Trust Company of Sarasota, the First State Bank of Fort Meade, the Bradenton Bank and Trust Company, (Continued On Page Six) WRECKS NERVOUS SYSTEM HELPING HUBBY ON DIET New York, July she wrecked (her nervous system trying to help her 232 pound husband, Donald L. Samuels, stock exchange member, to reduce, Mrs. Charlotte Samuels, who weighs 120, wants divorce. She applied in the supreme court today for week temporary alimony and got She states in her petition Samuels cheated on his diet.

9. July 17, 1929 The Daily News-Journal Murfreesboro, TN
Article from The Daily News-Journal, July 17, 1929

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TWELVE FLORIDA BANKS CLOSE DOORS Large Tampa Institution Newest To Fail; $6,500,000 Deposits Tallahassee, Fla., July 17.-(INS)Twelve banks with forty million dollars in deposits failed to open in South Florida today, according to State Comptroller Ernest Amos. Amos also declared that many other banks had withstood heavy runs Tuesday. The failures, according to the comptroller, are not due to business conditions, but to "undue and uncalled for alarm.' The banks which failed to open today, according to Amos, are as follows: Citizens Bank and Trust Company of Tampa, parent of others, including the Citizens Nebraska Avenue Bank, Tampa, the Franklin Bank, Tampa, the Lafayette Bank, Tampa, the Bank of Ybor City, the First State Bank at Port Tampa, the Bank of Mulberry, Fla., the Bank of Pasco County at Dade City, the Bank of Plant City, the First State Bank at Fort Meade, the First Trust Company at Sarasota, and the Bradenton Bank and Trust Company. Run On Ybor Bank. The others are: the Bank of Pasco County at Dade City, the First Bank and Trust Company of Sarasota, the First State Bank of Fort Meade, the Bradenton Bank and Trust Company,

10. July 17, 1929 The Journal Logan, UT
Article from The Journal, July 17, 1929

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a state bank examiner said the institution was in his hands. The branches affected were: The bank of Ybor City on which a run was made Monday; the LaFayette Bank; Citizens' Nebraska Avenue Bank: Franklin Bank and the bank of Plant City; Bradenton Bank and Trust company; First Bank and Trust company of Sarasota; First State bank of Fort Meade and the bank of Pasco County at Dade City. E P. Jackson, state examiner, has been here since Monday checking up on conditions. The board of directors of the Citizens Bank and Trust at a meeting early today, issued a statement explaining conditions as due to "unwise gossip and continued adverse conditions following the appearance of the Mediterranean fly which was responsible for a feeling of unrest and fear developed on the part of the people. The directors predicted that all depositors would be paid in full and that the depositories would go out of business. Paid in capital of the citizens Bank and Trust was $1,000,000 according to the published statement of the bank as of June 29 last. Deposits were given as in excess of $3,000,000 Paid in capital of the Citizens Nebraska Avenue was $50,000 with deposits of $182,650.11. according to published statements. The LaFayette bank had paid in capital of $150.000 with deposits of $457,222.65; the bank of Ybor City paid in capital was $200,000 and deposits of $2,679,237.69 and the Franklin Bank's paid in capital was $50 with deposits of $322,986.87 according to statements to conditions as of June 29.

11. July 18, 1929 Tampa Bay Times St. Petersburg, FL
Article from Tampa Bay Times, July 18, 1929

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BANKING CRISIS OVER, BELIEF, AS SENDS HELP Five Millions Sent Tampa and St. Petersburg Institutions (Continued from Page financial institutions which closed today, according figures at the banking department, was $3,630,000; deposits $22,575,728.97 and Names of the defunct institutions, which the hands state bank department today, Citizens Bank and Trust company, Tampa. *Franklin bank, Tampa. Lafayette bank, Tampa. American State Tampa. *Citizens Nebraska Avenue bank, Tampa. *Bank of Ybor City, Ybor City. *Bank Plant City, Plant City. *Bradenton Bank and Trust Bradenton. *First Bank and Trust company Sarasota. *First State bank, Fort Meade. *Bank Citizens bank of Frostproof. bank Tort City. Bank Mulberry. Mulberry. Ellenton State bank, Ellenton. with Citizens Eight other banks have failed the past weeks, bringthe number of failures within time board directors of the CitiBank Trust company of Tampa today issued written stateexplaining that the present situation due to "unwise gossip continued adverse fol"lowing the appearance of the Mediterranean fruit fly. was sponsible for feeling unrest and fear developed on the part of the Directors of the Citizens bank predicted that all depositors would be full and indicated that its subsidiaries would go out of busibolster up public confidence, $1,000,000 cash was brought here airplane today from Atlanta and delivered the First National bank Tampa, member the Federal Reserve. Meanwhile, officials of other solbanks Tampa, where withdrawals by few depositors reported, issued statements plenty of been obtained demands. Creed governor the Federal Rebank Atlanta, arrived today, also declared that local bankers could all the money need with which meet the from Washington stated the shipment of from Tampa said by FedReserve officials to have been authorization by the for the establishment of two depots one in each million dollars would quick use by the member officials of the Bank Sarasota, the Ringling Trust and First Trust company. the three solinstitutions there, said of the First and Trust "company that city no effect their banks. The three under usual business today, they said. Ringling circus fame, the board the Bank Sarasota and the Ringling Trust Savings bank. officials has the entire fortune the late Charles Ringling. brother.

12. July 18, 1929 The Miami Herald Miami, FL
Article from The Miami Herald, July 18, 1929

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COMPTROLLER SAYS CONDITIONS GOOD TAMPA July of today aggregate deposits more than regarded State Amos tonight being the 'darkened hour just the dawn. In statement The Comptroller he bethe primary cause of the was ganda and the mental attitude of the people. There financial depression to degree the the comptroller explained, "which has accentuated by the effect of the regard this the just however, people will not tear the temple upon their heads. This what they are doing "The flurry we have had today perhaps the largest we have the history of the Property values in Florida. While there been no we the same the and same who will take hold they that cleared in the circles of the state. "There has been too much propaganda, much agitation and funds that should be in the ordinary channels of trade. The people have brought down temple on themselves, as they this they will change With all bank failures. Florida still has money banks than our sister As an instance the sum $750,000 was taken out the Citizens Bank Tampa one day. "The Volusia County Bank DeLand had of new funds and the Bank of Daytona Beach had secured $500,000 new funds, which, ordinary would to have carried the There on the bank of for "The majority of banks that closed in Tampa today affiliated the Citizens Bank of Tampa and their closing was made that account as precautionary meas"Confiscation of fruit made it impossible for to their gations to the Aggregate capital stock of the 15 which today. to figures the state banking department, deposits and assets of Names of the defunct institutions which were placed in hands of the bank today Bank and Trust Tampa: *Franklin Tampa; *Lafayette Bank, Tampa: American State Bank Tampa; Nebraska Bank, Tampa: *Bank Ybor City, City: *Bank of Plant City, Plant *Bradenton and Trust ComBradenton: *First Bank and Trust Company, First State Bank, *Bank Pasco County, City: Bank Frostproof; Bank Port Tampa Bank lenton Bank, Ellenton. ated Citizens Bank at Tampa. Eight banks in weeks, bringing failures within board directors of the Citizens Bank Trust which parent institution the other banks which failed today, issued written statement, the present "unwise and the pearance the which was responsible for the feeling unrest fear on the the Directors the Citizens Bank predicted depositors indicated go out of business confidence, cash brought here airplane today from Atlanta and delivFirst National Bank Tampa, member of the Federal Reofficials of other solvent in statements plenty cash had been Creed Taylor, deputy governor of Federal Reserve Bank Atlanta, arrived here today declared that local the money they with which to meet from Washington stated that the from lanta Tampa said by Federal Reserve officials to have been sent under authorization by the board At Sarasota officials of the Bank of Sarasota and the Savings and the First Trust Company, the three solvent there, said closing the First Bank and Trust Company that city "had no effect whatever" their Both were conducted under usual today. they said John Ringling circus fame chairman of the Bank Sarasota the and Savings has behind fortune of the late Charles brother.

13. September 22, 1929 The Bradenton Herald Bradenton, FL
Article from The Bradenton Herald, September 22, 1929

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Connecticut Paper Defends Florida While Applying Lash To California Editor's Note: The Sunday September 8 issue of the Waterbury. Conn., Republican, devotes good part of its magazine section to effort to refute propoganda that has been circulated effort to hurt Florida which proves that the vast majority of newspapers published in the country always try to be fair. One has only to read what the Republican has to say in order to understand and appreciate its worth to this state. An editoria] from the Herald is quoted in order to illustrate the point under discussion. It is respectfully suggested that all read this article as it will be worth the few minutes necessary to go through Editor. Thanks to the newspapers and the average American's habit of believing everything he reads in them, most Northerners now have the notion that Florida is being back off are map into the ocean by the Mediterranean fruit fly, that all the banks are closed, that money is so scarce that the natives are using cigar coupons, and that the only place left to enjoy sunshine and summer weather In the winter is California. The notion is also rather widely circulated that if you eat any Florida fruit you are likely to contract some dangerous disease. and that any- way no fruit will be coming out of Florida for at least two years more. The Floridians were quick to protest that this dismal picture was from 50 to 75 per cent pure propaganda, and were just as quick to accuse California of being at the bottom of the campaign. The average Northerner, with no time to make personal investigation was forced to weigh the charge against the protest. discount the element of self interest in each, and arrive at whatever conclusion he might, Waterburians along with the rest. But the stories of several people in Waterbury who have visited Florida during the summer support Floridans protest. Conditions have been "grossly exaggerated" they agree, Florida by no means last legs as fruit producing territory they claim. The fierce war waged by government entomologists on the Mediterranean fruit already had definite results, and the quarantine and ban on the shipment of fruit from Florida to other parts of the country already being lifted in some sections. The statement that the ban will continue for two years without truth, it claimed. L. C. Whitall of Buckingham street who has recently made visit to Florida with his family reports that plans are already being made for chipment of fruit from Manatee county, and that the first shipment will be made this month with others to follow Moreover he reports the fruit is of superior quality and there is no justification for signs that can be seen to the effect that "No infected Florida fruit .s Id here. Bank Situation Exaggerated The bank situation has been exaggerated in the same way, Waterbury visitors to Florida agree. Mr. Whitall visited Bradenton where one of the banks has closed recently, and has the same opinion as that expressed by the Florida bank controller. namely that one fthe most important factors in the failure of the banks was unfavorable propaganda on the fruit situation. Whitall was able to see one insttance. Mr. Whitall was able to one instance that in the situation of the Bradenton bank. The Bradenton bank was one of 14 subsidiaries of large Tampa bank. Another subsidiary the largest. was the Ybor branch, lo-