Bank Failure
American Bank & Trust Company
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Closed September 15, 1976 · New York, NY · FDIC Cert #638.
- Closing date
- September 15, 1976
- Headquarters
- New York, NY
- FDIC Certificate
- 638
- Total assets at closing
- $224.5M
- Total deposits at closing
- $165.1M
- 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 15, 1976, regulators closed American Bank & Trust Company, headquartered in New York, NY. At closing, the institution held approximately $224.5M in assets and $165.1M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 702nd largest of the 3,526 bank failures in the FDIC record, and the 2nd of 16 in 1976. 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 Company fail?
American Bank & Trust Company was closed by regulators on September 15, 1976.
How big was American Bank & Trust Company when it failed?
American Bank & Trust Company had approximately $224.5M in total assets and $165.1M in deposits at the time of failure.
Other failures in 1976
| Date | Bank | Assets |
|---|---|---|
| Dec 3, 1976 | International City Bank and Trust Company | $176.3M |
| Nov 19, 1976 | First State Bank & Trust Co. | $13.8M |
| Oct 19, 1976 | Centennial Bank | $13.7M |
| Oct 8, 1976 | The Hamilton Bank and Trust Company | $40.1M |
| Sep 14, 1976 | The New Boston Bank and Trust Company | $6.7M |
| Jun 28, 1976 | Citizens State Bank | $17.4M |
| Jun 25, 1976 | Coronado National Bank | $2.6M |
| Jun 25, 1976 | MT. Zion Deposit Bank | $507K |
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