Number of Banks Failed in year 1937

75

* Dollar amounts in thousands
# Institution Location Date Closed Deposits Assets Estimated Loss
1 BANK OF HOUGHTON HOUGHTON, SD 1937-01-12 50 82 N/A
2 SARGENT COUNTY BANK FORMAN, ND 1937-01-14 154 0 N/A
3 FARMERS BANK OF TRENTON TRENTON, MO 1937-02-10 323 335 N/A
4 AKASKA STATE BANK AKASKA, SD 1937-02-18 62 92 N/A
5 FARMERS STATE BANK CORSICA, SD 1937-02-18 164 205 N/A
6 THE FIRST NATIONAL BANK OF ISMAY ISMAY, MT 1937-02-20 83 0 N/A
7 THE CITIZENS STATE BANK OF LEBANON LEBANON, SD 1937-02-20 112 154 N/A
8 RIO STATE BANK RIO, IL 1937-03-26 329 384 N/A
9 FIRST INTERNATIONAL BANK NOONAN, ND 1937-04-03 139 192 N/A
10 TEXAS STATE BANK AND TRUST COMPANY CORPUS CHRISTI, TX 1937-04-08 419 628 N/A
11 FIRST STATE BANK ARLINGTON, TX 1937-04-12 720 719 N/A
12 ROBBINS BANK & TRUST COMPANY ROBBINS, TN 1937-04-15 29 0 N/A
13 BANK OF EUREKA EUREKA, MO 1937-04-23 57 70 N/A
14 WHITEWOOD BANKING COMPANY WHITEWOOD, SD 1937-04-29 88 124 N/A
15 ST. ONGE STATE BANK ST. ONGE, SD 1937-04-30 61 81 N/A
16 THE CITIZENS BANK BUCKLIN, MO 1937-05-01 141 157 N/A
17 FARMERS & MERCHANTS TRUST BANK CAPE CHARLES, VA 1937-05-22 844 0 N/A
18 THE FARMERS NATIONAL BANK OF GRAYVILLE GRAYVILLE, IL 1937-05-27 258 0 N/A
19 CARROLL EXCHANGE BANK CARROLLTON, MO 1937-05-29 787 0 N/A
20 THE FIRST NATIONAL BANK OF MAHANOY CITY MAHANOY CITY, PA 1937-06-05 2060 0 N/A
21 COLOMA STATE BANK COLOMA, WI 1937-06-14 79 94 N/A
22 THE ROMNEY BANK ROMNEY, IN 1937-06-15 56 64 N/A
23 THE FIRST NATIONAL BANK OF PUKWANA PUKWANA, SD 1937-06-16 127 0 N/A
24 UNION STATE BANK AND TRUST COMPANY BRYAN, TX 1937-06-16 302 359 N/A
25 THE STATE BANK OF MARCELLUS MARCELLUS, MI 1937-06-17 64 95 N/A
26 HARDIN TRUST COMPANY HARDIN, MO 1937-06-18 225 259 N/A
27 AMITE RIVER BANK DENHAM SPRINGS, LA 1937-06-23 248 308 N/A
28 GHENT DEPOSIT BANK GHENT, KY 1937-06-26 189 223 N/A
29 FIRST STATE BANK OF SOUTH SAN ANTONIO SAN ANTONIO, TX 1937-06-29 490 514 N/A
30 THE TAYLOR NATIONAL BANK OF CAMPBELLSVILLE CAMPBELLSVILLE, KY 1937-06-30 914 1651 N/A
31 AMERICAN BANK HIGGINSVILLE, MO 1937-07-03 206 0 N/A
32 BANK OF STURGIS STURGIS, KY 1937-07-03 213 246 N/A
33 BANK OF ANUTT ANUTT, MO 1937-07-12 33 0 N/A
34 FARMERS STATE BANK OF BAINVILLE BAINVILLE, MT 1937-07-13 54 104 N/A
35 CHATTOOGA COUNTY BANK SUMMERVILLE, GA 1937-07-13 205 265 N/A
36 FARMERS & MERCHANTS BANK NEWBERN, TN 1937-07-17 189 264 N/A
37 PEOPLES BANK OF BLOXOM, INC. BLOXOM, VA 1937-07-19 63 101 N/A
38 MICHIGAN CITY TRUST & SAVINGS BANK MICHIGAN CITY, IN 1937-07-20 983 0 N/A
39 FIRST BANK & TRUST COMPANY OF HAMILTON HAMILTON, MO 1937-07-24 544 698 N/A
40 KOCHAN BANKING COMPANY MAYSVILLE, MO 1937-08-05 173 0 N/A
41 THE BANK OF NOEL NOEL, MO 1937-08-11 108 135 N/A
42 THE FIRST NATIONAL BANK OF ALBERTVILLE ALBERTVILLE, AL 1937-08-12 428 0 N/A
43 THE FORT GREENE NATIONAL BANK IN NEW YORK BROOKLYN, NY 1937-08-14 1987 2379 N/A
44 FARMERS AND MERCHANTS BANK BRILLION, WI 1937-08-21 159 0 N/A
45 FARMERS BANK & TRUST COMPANY CHARLES TOWN, WV 1937-08-31 1361 1262 N/A
46 ROANOKE STATE BANK ROANOKE, IL 1937-09-08 280 265 N/A
47 STONEHAM TRUST COMPANY STONEHAM, MA 1937-09-11 809 0 N/A
48 THE BANK OF GALENA GALENA, MO 1937-09-14 76 93 N/A
49 BURT STATE BANK BURT, ND 1937-09-25 39 63 N/A
50 WESTWOOD TRUST COMPANY WESTWOOD, NJ 1937-09-30 648 0 N/A
51 THE FIRST NATIONAL BANK OF LOVELADY LOVELADY, TX 1937-10-01 78 0 N/A
52 RINGGOLD STATE BANK RINGGOLD, TX 1937-10-01 51 92 N/A
53 THE FIRST NATIONAL BANK OF PERTH AMBOY PERTH AMBOY, NJ 1937-10-02 3660 0 N/A
54 THE RARITAN TRUST COMPANY PERTH AMBOY, NJ 1937-10-02 365 707 N/A
55 PERTH AMBOY TRUST COMPANY PERTH AMBOY, NJ 1937-10-02 1344 2899 N/A
56 FARMERS STATE BANK OF CARLISLE CARLISLE, MN 1937-10-07 82 99 N/A
57 STATE BANK OF MUNDELEIN MUNDELEIN, IL 1937-10-18 522 0 N/A
58 THE FIRST NATIONAL BANK IN BURLINGTON BURLINGTON, IA 1937-10-20 3594 0 N/A
59 THE NESCOPECK NATIONAL BANK NESCOPECK, PA 1937-10-22 329 397 N/A
60 THE LITTLE FERRY NATIONAL BANK LITTLE FERRY, NJ 1937-10-22 744 0 N/A
61 FARMERS STATE BANK WYNDMERE, ND 1937-10-23 72 100 N/A
62 FIRST STATE BANK BARBOURVILLE, KY 1937-10-29 391 425 N/A
63 CARTER COUNTY COMMERCIAL BANK OLIVE HILL, KY 1937-10-30 109 139 N/A
64 FARMERS & MERCHANTS BANK OF ELGIN ELGIN, ND 1937-10-30 35 57 N/A
65 BANK OF ALBA ALBA, MO 1937-11-01 79 97 N/A
66 FIRST STATE BANK CENTER, ND 1937-11-01 52 80 N/A
67 COMMERCIAL BANK & TRUST COMPANY UNION CITY, IN 1937-11-04 733 853 N/A
68 BANK OF SWIFTON SWIFTON, AR 1937-11-19 157 208 N/A
69 FIRST STATE BANK OF COBDEN COBDEN, IL 1937-11-24 52 0 N/A
70 LOGANVILLE STATE BANK LOGANVILLE, WI 1937-11-27 489 0 N/A
71 STERLING STATE BANK STERLING, ND 1937-11-30 84 121 N/A
72 PEOPLES UNITED BANK SOUTHPORT, NC 1937-12-02 162 0 N/A
73 NEVADA TRUST COMPANY NEVADA, MO 1937-12-02 189 242 N/A
74 BIG FALLS STATE BANK BIG FALLS, WI 1937-12-17 85 103 N/A
75 FIRST NAT BK & TR CO. OF MANHASSET MANHASSET, NY 1937-12-20 1214 0 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.