Bank Failure
Badger State Bank
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Closed August 3, 1940 · Badger, SD .
- Closing date
- August 3, 1940
- Headquarters
- Badger, SD
- Total assets at closing
- $74K
- Total deposits at closing
- $53K
- 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 August 3, 1940, regulators closed Badger State Bank, headquartered in Badger, SD. At closing, the institution held approximately $74K in assets and $53K in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3343rd largest of the 3,526 bank failures in the FDIC record, and the 18th of 43 in 1940. It falls in the period the record labels Early FDIC Era (1934-1944), a period with 397 failures peaking at 75 in 1937.
FDIC's first decade after the 1933 Banking Act. Failures fell sharply once deposit insurance restored confidence.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Badger State Bank fail?
Badger State Bank was closed by regulators on August 3, 1940.
How big was Badger State Bank when it failed?
Badger State Bank had approximately $74K in total assets and $53K in deposits at the time of failure.
Other failures in 1940
| Date | Bank | Assets |
|---|---|---|
| Dec 4, 1940 | The American Nat BK of Santa Monica | — |
| Nov 23, 1940 | The State Exchange Bank | — |
| Nov 19, 1940 | The First National Bank of Burlingame | $301K |
| Oct 25, 1940 | Bank of Eagle | $457K |
| Oct 4, 1940 | Savings Bank of Nanticoke | $190K |
| Sep 18, 1940 | The Bank of Leslie | $141K |
| Sep 14, 1940 | First Citizens Bank & Trust Co. of Utica | — |
| Aug 24, 1940 | MT. Union State Bank | — |
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