Bank Failure
Cromwell State Savings Bank
BankRegReports is independent of Cromwell State Savings Bank and never asks for online banking logins or passwords.
Closed October 9, 1974 · Cromwell, IA · FDIC Cert #14250.
- Closing date
- October 9, 1974
- Headquarters
- Cromwell, IA
- FDIC Certificate
- 14250
- Total assets at closing
- $3.5M
- Total deposits at closing
- $3.3M
- 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 9, 1974, regulators closed Cromwell State Savings Bank, headquartered in Cromwell, IA. At closing, the institution held approximately $3.5M in assets and $3.3M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3049th largest of the 3,526 bank failures in the FDIC record, and the 4th of 4 in 1974. 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 Cromwell State Savings Bank fail?
Cromwell State Savings Bank was closed by regulators on October 9, 1974.
How big was Cromwell State Savings Bank when it failed?
Cromwell State Savings Bank had approximately $3.5M in total assets and $3.3M in deposits at the time of failure.
Other failures in 1974
| Date | Bank | Assets |
|---|---|---|
| Oct 8, 1974 | Franklin National Bank | $3.66B |
| Sep 27, 1974 | Tri-City Bank | $16.3M |
| Sep 20, 1974 | American Bank & Trust | $147.1M |
Explore: all failures · IA bank events · 1974 events · events hub