Bank Failure
Centennial Bank
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Closed October 19, 1976 · Philadelphia, PA · FDIC Cert #9150.
- Closing date
- October 19, 1976
- Headquarters
- Philadelphia, PA
- FDIC Certificate
- 9150
- Total assets at closing
- $13.7M
- Total deposits at closing
- $12.3M
- 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 October 19, 1976, regulators closed Centennial Bank, headquartered in Philadelphia, PA. At closing, the institution held approximately $13.7M in assets and $12.3M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 2600th largest of the 3,526 bank failures in the FDIC record, and the 11th 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 Centennial Bank fail?
Centennial Bank was closed by regulators on October 19, 1976.
How big was Centennial Bank when it failed?
Centennial Bank had approximately $13.7M in total assets and $12.3M 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 8, 1976 | The Hamilton Bank and Trust Company | $40.1M |
| Sep 15, 1976 | American Bank & Trust Company | $224.5M |
| 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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