Bank Failure
Crown Savings Bank
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Closed September 4, 1964 · Newport News, VA .
- Closing date
- September 4, 1964
- Headquarters
- Newport News, VA
- Total assets at closing
- $7.9M
- Total deposits at closing
- $7.0M
- 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 September 4, 1964, regulators closed Crown Savings Bank, headquartered in Newport News, VA. At closing, the institution held approximately $7.9M in assets and $7.0M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 2868th largest of the 3,526 bank failures in the FDIC record, and the 1st of 7 in 1964. 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 Crown Savings Bank fail?
Crown Savings Bank was closed by regulators on September 4, 1964.
How big was Crown Savings Bank when it failed?
Crown Savings Bank had approximately $7.9M in total assets and $7.0M in deposits at the time of failure.
Other failures in 1964
| Date | Bank | Assets |
|---|---|---|
| Oct 29, 1964 | Nebraska St Bank of Valentine, Nebraska | $7.8M |
| Jul 31, 1964 | Frontier Bank | $2.6M |
| Jul 20, 1964 | Belleview Valley Bank | $1.3M |
| Jul 4, 1964 | First State Bank | $1.2M |
| Mar 17, 1964 | The State Savings Bank of Minden City | $1.3M |
| Mar 10, 1964 | The First National Bank of Marlin | $3.7M |
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