Bank Failure
Bank of America Trust Co.
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Closed April 19, 1934 ยท Pittsburgh, PA .
- Closing date
- April 19, 1934
- Headquarters
- Pittsburgh, PA
- Total assets at closing
- $1.4M
- Total deposits at closing
- $1.1M
- 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 April 19, 1934, regulators closed Bank of America Trust Co., headquartered in Pittsburgh, PA. At closing, the institution held approximately $1.4M in assets and $1.1M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3101st largest of the 3,526 bank failures in the FDIC record, and the 1st of 9 in 1934. 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 Bank of America Trust Co. fail?
Bank of America Trust Co. was closed by regulators on April 19, 1934.
How big was Bank of America Trust Co. when it failed?
Bank of America Trust Co. had approximately $1.4M in total assets and $1.1M in deposits at the time of failure.
Other failures in 1934
| Date | Bank | Assets |
|---|---|---|
| Nov 16, 1934 | The State Bank | $195K |
| Oct 13, 1934 | Pickens County Bank | $243K |
| Oct 11, 1934 | Farmers & Traders Bank | $46K |
| Sep 13, 1934 | Farmers State Bank of Bongards | $91K |
| Aug 6, 1934 | Bank of Lewisport | $81K |
| Jul 18, 1934 | Florence Deposit Bank | $105K |
| Jul 18, 1934 | First National Bank of Lima | $91K |
| May 28, 1934 | Fon Du Lac State Bank | $374K |
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