Bank Failure
Clifton State Bank
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Closed March 27, 1936 · Clifton, TN .
- Closing date
- March 27, 1936
- Headquarters
- Clifton, TN
- Total assets at closing
- $30K
- Total deposits at closing
- $22K
- 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 27, 1936, regulators closed Clifton State Bank, headquartered in Clifton, TN. At closing, the institution held approximately $30K in assets and $22K in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3372nd largest of the 3,526 bank failures in the FDIC record, and the 40th of 69 in 1936. 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 Clifton State Bank fail?
Clifton State Bank was closed by regulators on March 27, 1936.
How big was Clifton State Bank when it failed?
Clifton State Bank had approximately $30K in total assets and $22K in deposits at the time of failure.
Other failures in 1936
| Date | Bank | Assets |
|---|---|---|
| Dec 31, 1936 | Central State Bank of Sherman | $312K |
| Dec 21, 1936 | Bank of Berthold | — |
| Dec 21, 1936 | First State Bank | — |
| Dec 21, 1936 | The Cummings State Bank | — |
| Dec 21, 1936 | Reservation State Bank | — |
| Dec 21, 1936 | First State Bank of Max | — |
| Dec 21, 1936 | First State Bank of Powers Lake | — |
| Dec 19, 1936 | Northern and Dakota Trust Company | — |
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