Bank Failure
Bank of Malone
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Closed March 31, 1942 · Malone, FL .
- Closing date
- March 31, 1942
- Headquarters
- Malone, FL
- Total assets at closing
- $149K
- Total deposits at closing
- $140K
- 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 March 31, 1942, regulators closed Bank of Malone, headquartered in Malone, FL. At closing, the institution held approximately $149K in assets and $140K in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3272nd largest of the 3,526 bank failures in the FDIC record, and the 4th of 20 in 1942. 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 Malone fail?
Bank of Malone was closed by regulators on March 31, 1942.
How big was Bank of Malone when it failed?
Bank of Malone had approximately $149K in total assets and $140K in deposits at the time of failure.
Other failures in 1942
| Date | Bank | Assets |
|---|---|---|
| Nov 28, 1942 | Guarantee TR & Safe Dep. CO.-MT.CARMEL | — |
| Nov 18, 1942 | The Citizens Bank of Liberty | $258K |
| Oct 17, 1942 | The Farmers National Bank of Selinsgrove | — |
| Oct 2, 1942 | Farmers Bank | $580K |
| Sep 12, 1942 | Merchants Banking Trust Company | — |
| Aug 29, 1942 | The Harney County National Bank of Burns | — |
| Aug 1, 1942 | The First National Bank of Lehighton | — |
| Aug 1, 1942 | Citizens Nat BK & TR Co. of Lehighton | — |
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