Bank Failure
American Bank & Trust
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Closed September 20, 1974 · Orangeburg, SC · FDIC Cert #11543.
- Closing date
- September 20, 1974
- Headquarters
- Orangeburg, SC
- FDIC Certificate
- 11543
- Total assets at closing
- $147.1M
- Total deposits at closing
- $112.7M
- Estimated loss to the insurance fund
- Not published (the FDIC feed carries no estimate for this failure)
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
Context
On September 20, 1974, regulators closed American Bank & Trust, headquartered in Orangeburg, SC. At closing, the institution held approximately $147.1M in assets and $112.7M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 956th largest of the 3,526 bank failures in the FDIC record, and the 2nd of 4 in 1974. It falls in the period the record labels Postwar Stability (1945-1979), a period with 161 failures peaking at 16 in 1976.
Three decades of regulated calm — Reg Q ceilings, geographic branching limits, and high industry profits kept failures rare.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did American Bank & Trust fail?
American Bank & Trust was closed by regulators on September 20, 1974.
How big was American Bank & Trust when it failed?
American Bank & Trust had approximately $147.1M in total assets and $112.7M in deposits at the time of failure.
Other failures in 1974
| Date | Bank | Assets |
|---|---|---|
| Oct 9, 1974 | Cromwell State Savings Bank | $3.5M |
| Oct 8, 1974 | Franklin National Bank | $3.66B |
| Sep 27, 1974 | Tri-City Bank | $16.3M |
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