| Coconut Grove Bank opened its doors for business. Angus D. Harrison, Sr. was the third employee hired, responsible for bookkeeping, tellers and anything else that needed to be done. It was a difficult time to start a bank in Miami.
The great land boom was cycling down and a huge hurricane hit the city that year. And things would only get more difficult. The stock market crashed in 1929, signaling the beginning of the Great Depression. In 1933, President Roosevelt declared a "banking holiday," closing all the banks in the nation. Coconut Grove Bank was one of five Dade county banks to survive and open again following the bank holiday.
Through the difficult years, Harrison took on more and more responsibility. After 28 years with the bank, he was elected President. A.D. Harrison, Sr. became Chairman in 1976, and served in that position for 20 years. He then served as Chairman Emeritus, actively attending board meetings through June, 1999. The bank has 100 employees, 2 offices and assets in excess of $275 million |
