Number of Banks Failed in year 1938

74


* Dollar amounts in thousands
# Institution Location Date Closed Deposits Assets Estimated Loss
1 WORTHVILLE DEPOSIT BANK WORTHVILLE, KY 1938-01-11 116 141 N/A
2 BANK OF DECATUR DECATUR, AR 1938-01-19 84 97 N/A
3 FIRST STATE BANK OF WOLSEY WOLSEY, SD 1938-01-21 90 123 N/A
4 THE WOODMAN STATE BANK WOODMAN, WI 1938-01-22 152 0 N/A
5 BELLEVILLE BANK & TRUST COMPANY BELLEVILLE, IL 1938-01-26 2795 0 N/A
6 THE TROUT CREEK STATE BANK TROUT CREEK, MI 1938-01-28 22 46 N/A
7 THE BANK OF FREMONT FREMONT, NC 1938-01-29 341 0 N/A
8 FARMERS SECURITY BANK MAYWOOD, NE 1938-02-01 186 213 N/A
9 THE FIRST STATE BANK OF LATHROP LATHROP, MO 1938-02-01 125 163 N/A
10 POLLOCK STATE BANK POLLOCK, SD 1938-02-01 56 103 N/A
11 BANK OF MARION MARION, AR 1938-02-07 554 639 N/A
12 THE BRIGGSDALE STATE BANK BRIGGSDALE, CO 1938-02-10 8 14 N/A
13 PEOPLES BANK & TRUST COMPANY SPARTA, TN 1938-02-10 123 0 N/A
14 BANK OF STRAFFORD STRAFFORD, MO 1938-02-10 122 136 N/A
15 THE FIRST NATIONAL BANK OF PURDON PURDON, TX 1938-02-12 36 63 N/A
16 FARMERS BANK OF BLACKBURN BLACKBURN, MO 1938-02-17 51 79 N/A
17 STATE BANK OF SURPRISE SURPRISE, NE 1938-02-28 56 65 N/A
18 CITIZENS STATE BANK HARTFORD, AR 1938-03-02 94 118 N/A
19 BANK OF NORTHAMPTON, INCORPORATED NASSAWADOX, VA 1938-03-03 300 0 N/A
20 HOME SAVINGS BANK DES MOINES, IA 1938-03-05 1246 0 N/A
21 FIRST STATE BANK KULM, ND 1938-03-14 142 212 N/A
22 THE BORDEN STATE BANK BORDEN, IN 1938-03-18 135 165 N/A
23 MERCHANTS' AND MECHANICS' SAVINGS BANK OF NORFOLK NORFOLK, VA 1938-03-26 2941 0 N/A
24 MARGATE TRUST COMPANY MARGATE CITY, NJ 1938-04-02 367 702 N/A
25 BANK OF ELLENBORO ELLENBORO, NC 1938-04-09 54 0 N/A
26 THE CITY NATIONAL BANK OF HARRISBURG HARRISBURG, IL 1938-04-09 2795 0 N/A
27 THE FIRST STATE BANK COLFAX, ND 1938-04-09 83 117 N/A
28 WEST JERSEY TRUST COMPANY CAMDEN, NJ 1938-04-11 8985 0 N/A
29 CAMDEN SAFE DEPOSIT & TRUST COMPANY CAMDEN, NJ 1938-04-11 22564 0 N/A
30 FIRST STATE BANK OF IPSWICH IPSWICH, SD 1938-04-12 184 210 N/A
31 FIRST STATE BANK TURTLE LAKE, ND 1938-04-19 144 186 N/A
32 BANK OF HUMBOLDT HUMBOLDT, SD 1938-04-19 131 194 N/A
33 CAROLINE STATE BANK CAROLINE, WI 1938-04-20 134 168 N/A
34 STATE BANK OF IRENE IRENE, SD 1938-04-25 142 176 N/A
35 SUSSEX STATE BANK SUSSEX, WI 1938-05-14 290 0 N/A
36 CITIZENS STATE BANK OF ANDOVER ANDOVER, SD 1938-05-17 48 78 N/A
37 FARMERS SAVINGS BANK ANKENY, IA 1938-05-19 163 186 N/A
38 GERMAN STATE BANK OF BEULAH BEULAH, ND 1938-05-31 100 122 N/A
39 LEOPOLIS STATE BANK LEOPOLIS, WI 1938-06-03 143 205 N/A
40 RUSSELL STATE BANK & TRUST COMPANY RUSSELL, IA 1938-06-17 185 217 N/A
41 CENTRAL SAVINGS BANK NEWPORT, KY 1938-06-22 1361 0 N/A
42 THE BANK OF ASHE JEFFERSON, NC 1938-06-24 312 0 N/A
43 COMMERCIAL BANK OF MARYLAND FREDERICK, MD 1938-07-01 1410 0 N/A
44 BANK OF MILBURN MILBURN, KY 1938-07-11 62 79 N/A
45 HUDSON STATE BANK HUDSON, SD 1938-07-12 209 254 N/A
46 BETHEL SPRINGS BANK BETHEL SPRINGS, TN 1938-07-22 39 0 N/A
47 TAKOMA PARK BANK TAKOMA PARK, MD 1938-07-23 2048 0 N/A
48 HUTCHINSON COUNTY BANK PARKSTON, SD 1938-07-27 215 273 N/A
49 WINOOSKI SAVINGS BANK WINOOSKI, VT 1938-07-28 2479 4008 N/A
50 STATE BANK OF RICE LAKE RICE LAKE, WI 1938-08-15 841 946 N/A
51 BANK OF HIGHMORE (DREW BROS.) HIGHMORE, SD 1938-08-16 79 109 N/A
52 THE FARMERS & MERCHANTS BANK MADISON, MO 1938-08-18 95 119 N/A
53 HOME BANK & TRUST COMPANY WINCHESTER, TN 1938-08-19 278 401 N/A
54 HITCHCOCK STATE BANK HITCHCOCK, SD 1938-08-24 54 79 N/A
55 FIRST BANK OF FLAXTON FLAXTON, ND 1938-08-31 53 80 N/A
56 JERAULD COUNTY BANK WESSINGTON SPRINGS, SD 1938-08-31 211 260 N/A
57 FIRST STATE BANK HEWITT, MN 1938-09-02 112 135 N/A
58 THE SARANAC LAKE NATIONAL BANK SARANAC LAKE, NY 1938-09-24 491 0 N/A
59 STOCKMENS STATE BANK MEDORA, ND 1938-09-24 74 87 N/A
60 FIRST STATE BANK WILMOT, SD 1938-09-29 112 165 N/A
61 BANK OF LOCKPORT LOCKPORT, KY 1938-10-11 51 68 N/A
62 BANK OF ETON ETON, GA 1938-10-12 29 0 N/A
63 KERMIT STATE BANK KERMIT, WV 1938-11-01 67 120 N/A
64 FAYETTE BANK FAYETTE, MO 1938-11-03 303 348 N/A
65 BANK OF BELLFLOWER BELLFLOWER, MO 1938-11-05 52 0 N/A
66 THE FIRST NATIONAL BANK OF ROOSEVELT ROOSEVELT, NY 1938-11-26 1001 0 N/A
67 THE BANK OF CUBA CUBA, Al 1938-11-26 100 89 N/A
68 FARMERS STATE BANK OF ANAMOOSE ANAMOOSE, ND 1938-11-26 39 62 N/A
69 THE NATIONAL CITY BANK OF LYNN LYNN, MA 1938-12-03 2233 0 N/A
70 COLEMAN STATE BANK COLEMAN, WI 1938-12-14 234 0 N/A
71 BOILING SPRINGS STATE BANK BOILING SPRINGS, PA 1938-12-17 147 0 N/A
72 FARMERS STATE BANK OF LONDON LONDON, KY 1938-12-21 287 355 N/A
73 THE HARFORD BANK BEL AIR, MD 1938-12-31 669 893 N/A
74 FARMERS STATE BANK CANTON, WI 1938-12-31 30 51 N/A

     
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Asset-wise List
     

US Bank Failures Since 1934
FDIC Bank Failures since 1990


Cost of Bank Failures to FDIC


Total Deposits of All Banks Insured by FDIC since 1990


Cost of Bank Failures to FDIC

The Federal Deposit Insurance Corporation is an independent federal agency created in 1933 to promote public confidence and stability in the nation's banking system. The FDIC is often appointed as receiver for failed banks.

What is a bank failure?
A bank failure is the closing of a bank by a federal or state banking regulatory agency. Generally, a bank is closed when it is unable to meet its obligations to depositors and others. This brochure deals with the failure of "insured banks." The term "insured bank" means a bank insured by FDIC, including banks chartered by the federal government as well as most banks chartered by the state governments. An insured bank must display an official FDIC sign at each teller window.

What is FDIC's role in a bank failure?
In the event of a bank failure, the FDIC acts in two capacities. First, as the insurer of the bank's deposits, the FDIC pays insurance to the depositors up to the insurance limit. Second, the FDIC, as the "Receiver" of the failed bank, assumes the task of selling/collecting the assets of the failed bank and settling its debts, including claims for deposits in excess of the insured limit.



What is the purpose of FDIC deposit insurance?
The FDIC protects depositors' funds in the unlikely event of the financial failure of their bank or savings institution. FDIC deposit insurance covers the balance of each depositor's account, dollar-for-dollar, up to the insurance limit, including principal and any accrued interest through the date of the insured bank's closing.

What is the FDIC insurance amount?
The standard insurance amount is $250,000 per depositor, per insured bank, for each ownership category. This includes principal and accrued interest and applies to all depositors of an insured bank. Deposits in separate branches of an insured bank are not separately insured. Deposits in one insured bank are insured separately from deposits in another insured bank. Deposits maintained in different categories of legal ownership at the same bank can be separately insured. Therefore, it is possible to have deposits of more than $250,000 at one insured bank and still be fully insured. For more information on deposit insurance coverage, see the FDIC's brochure "Your Insured Deposits" which can be accessed at www.fdic.gov/deposit/deposits/insured

Who does the FDIC insure?
Any person or entity can have FDIC insurance on a deposit. A depositor does not have to be a citizen, or even a resident of the United States. FDIC insurance only protects depositors, although some depositors may also be creditors or shareholders of an insured bank.

What does FDIC deposit insurance cover?
FDIC insurance covers deposits received at an insured bank. Types of deposit products include checking, NOW, and savings accounts, money market deposit accounts (MMDA), and time deposits such as certificates of deposit (CDs).

What is the source of funding used by the FDIC to pay insured depositors of a failed bank?
The FDIC's deposit insurance fund consists of premiums already paid by insured banks and interest earnings on its investment portfolio of U.S. Treasury securities. No federal or state tax revenues are involved.

How am I notified when my bank has been closed?
The FDIC notifies each depositor in writing using the depositor's address on record with the bank. This notification is mailed immediately after the bank closes. When the failed bank is acquired by another bank; the assuming bank also notifies the depositors. This notification usually is mailed with the first bank statement after the assumption.


Source :  Federal Deposit Insurance Corporation


Notes :

* The Cost to DIF of $2.5 billion for "California National Bank" failed on 30th October,2009 is the total cost for all the 9 banks failed on that.