Number of Banks Failed in year 1939

60


* Dollar amounts in thousands
# Institution Location Date Closed Deposits Assets Estimated Loss
1 OCONTO COUNTY STATE BANK OCONTO FALLS, WI 1939-01-04 346 386 N/A
2 THE FIRST NATIONAL BANK OF PRESTON PRESTON, MN 1939-01-05 285 304 N/A
3 FIRST STATE BANK ELGIN, TX 1939-01-09 287 347 N/A
4 BANK OF HANCOCK HANCOCK, WI 1939-01-12 248 0 N/A
5 BANK OF SCRANTON SCRANTON, ND 1939-01-16 94 153 N/A
6 FIRST STATE BANK MARQUEZ, TX 1939-01-16 46 87 N/A
7 THE HILLSBORO-QUEEN ANNE BANK, INC. HILLSBORO, MD 1939-01-21 249 0 N/A
8 THE FARMERS BANK OF NEWTOWN NEWTOWN, MO 1939-02-02 89 114 N/A
9 FARMERS STATE BANK IN MERKEL MERKEL, TX 1939-02-03 131 183 N/A
10 THE AMERICAN NATIONAL BANK OF CAMDEN CAMDEN, NJ 1939-02-04 820 0 N/A
11 THE COUDERSPORT TRUST COMPANY COUDERSPORT, PA 1939-02-04 706 952 N/A
12 NORTH CAMDEN TRUST COMPANY CAMDEN, NJ 1939-02-11 820 0 N/A
13 THE NEW JERSEY TITLE GUARANTEE & TRUST CO. JERSEY CITY, NJ 1939-02-11 21667 30745 N/A
14 GROVETON NATIONAL BANK GROVETON, NH 1939-02-14 297 0 N/A
15 THE ST. JOSEPH LOAN & TRUST COMPANY SOUTH BEND, IN 1939-02-16 3202 0 N/A
16 ST. JOSEPH COUNTY SAVINGS BANK SOUTH BEND, IN 1939-02-16 1584 0 N/A
17 THE FIRST NAT'L BANK & TR CO. OF BLACKWOOD BLACKWOOD, NJ 1939-02-18 708 0 N/A
18 PEOPLES STATE BANK FRANKFORT, KY 1939-02-21 1932 0 N/A
19 THE FIRST NATIONAL BANK IN BROOKSVILLE BROOKSVILLE, FL 1939-02-25 274 0 N/A
20 THE BANK OF ROCKY HILL ROCKY HILL, KY 1939-03-04 154 163 N/A
21 THE POINT PLEASANT NATIONAL BANK POINT PLEASANT, WV 1939-03-07 410 461 N/A
22 STATE BANK OF FORESTVILLE FORESTVILLE, WI 1939-03-08 281 342 N/A
23 RAHWAY TRUST COMPANY RAHWAY, NJ 1939-03-11 1187 0 N/A
24 STATE BANK OF BREMEN BREMEN, ND 1939-03-18 28 61 N/A
25 THE FULTON STATE BANK FULTON, IN 1939-03-18 137 168 N/A
26 EDEN STATE BANK EDEN, WI 1939-03-18 179 0 N/A
27 MERCHANTS & FARMERS BANK ATKINS, AR 1939-03-23 192 223 N/A
28 BANK OF AMORITA AMORITA, OK 1939-04-06 117 132 N/A
29 THE FIRST NATIONAL BANK OF PLAINFIELD PLAINFIELD, NJ 1939-04-08 4080 0 N/A
30 BANK OF BRUSSELS BRUSSELS, IL 1939-04-14 148 0 N/A
31 WEST BERGEN TRUST COMPANY JERSEY CITY, NJ 1939-04-20 2686 0 N/A
32 THE TRUST COMPANY OF NEW JERSEY JERSEY CITY, NJ 1939-04-20 48822 0 N/A
33 RIPLEY SAVINGS BANK & TRUST COMPANY RIPLEY, TN 1939-04-28 739 794 N/A
34 COLUMBIA TRUST COMPANY OF NEW JERSEY HOBOKEN, NJ 1939-04-29 1484 0 N/A
35 HUDSON TRUST COMPANY UNION CITY, NJ 1939-04-29 24484 0 N/A
36 BANK OF EDEN EDEN, NY 1939-04-29 734 0 N/A
37 TATUM STATE BANK TATUM, TX 1939-05-02 17 47 N/A
38 THE PARKSLEY NATIONAL BANK PARKSLEY, VA 1939-05-18 182 279 N/A
39 BANK OF HARTLAND HARTLAND, WI 1939-05-29 370 455 N/A
40 MERCHANTS TRUST COMPANY UNION CITY, NJ 1939-06-03 5593 0 N/A
41 COMMONWEALTH TRUST COMPANY UNION CITY, NJ 1939-06-03 5763 0 N/A
42 GLOUCESTER CITY TRUST COMPANY GLOUCESTER CITY, NJ 1939-06-03 1160 0 N/A
43 GLENDIVE STATE BANK GLENDIVE, MT 1939-06-15 119 162 N/A
44 THE HAMILTON TRUST COMPANY OF PATERSON PATERSON, NJ 1939-06-17 2860 3734 N/A
45 THE PLANTSVILLE NATIONAL BANK PLANTSVILLE, CT 1939-06-24 464 380 N/A
46 PLEASANTVILLE TRUST COMPANY PLEASANTVILLE, NJ 1939-06-30 936 1116 N/A
47 KEARNY NATIONAL BANK KEARNY, NJ 1939-06-30 3092 0 N/A
48 WEST HUDSON COUNTY TRUST COMPANY HARRISON, NJ 1939-06-30 5773 0 N/A
49 FIRST STATE BANK OF O'FALLON O'FALLON, IL 1939-08-28 102 50 N/A
50 RARDIN STATE BANK RARDIN, IL 1939-08-30 3092 0 N/A
51 PROVIDENCE CITIZENS BANK PROVIDENCE, KY 1939-09-01 251 306 N/A
52 THE FARMERS STATE BANK CATO, WI 1939-09-15 82 97 N/A
53 SECURITY STATE BANK LAWRENCE, NE 1939-10-03 96 121 N/A
54 THE EGG HARBOR COMMERCIAL BANK EGG HARBOR CITY, NJ 1939-10-07 865 0 N/A
55 COMMERCIAL BANK OF LIBERTY LIBERTY, KY 1939-11-25 502 548 N/A
56 THE FARMERS STATE BANK CUBA, KS 1939-11-25 94 0 N/A
57 THE YONKERS NATIONAL BANK & TRUST CO. YONKERS, NY 1939-12-04 8849 0 N/A
58 THE STATE BANK OF LIEBENTHAL LIEBENTHAL, KS 1939-12-06 58 60 N/A
59 MAYNARDVILLE STATE BANK MAYNARDVILLE, TN 1939-12-11 186 218 N/A
60 THE TUCKERTON BANK TUCKERTON, NJ 1939-12-27 624 735 N/A

     
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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.