Bank Failure
Bank of Ila
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Closed August 9, 1954 · Ila, GA .
- Closing date
- August 9, 1954
- Headquarters
- Ila, GA
- Total assets at closing
- $98K
- Total deposits at closing
- $60K
- 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 9, 1954, regulators closed Bank of Ila, headquartered in Ila, GA. At closing, the institution held approximately $98K in assets and $60K in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3311th largest of the 3,526 bank failures in the FDIC record, and the 2nd of 2 in 1954. 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 Bank of Ila fail?
Bank of Ila was closed by regulators on August 9, 1954.
How big was Bank of Ila when it failed?
Bank of Ila had approximately $98K in total assets and $60K in deposits at the time of failure.
Other failures in 1954
| Date | Bank | Assets |
|---|---|---|
| Oct 1, 1954 | Bank of Whitesville | $1.0M |
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