Bank Failure
Farmer's and Merchant's Bank
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Closed July 6, 1942 · Cochrane, WI .
- Closing date
- July 6, 1942
- Headquarters
- Cochrane, WI
- Total assets at closing
- $395K
- Total deposits at closing
- $325K
- 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 July 6, 1942, regulators closed Farmer's and Merchant's Bank, headquartered in Cochrane, WI. At closing, the institution held approximately $395K in assets and $325K in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3181st largest of the 3,526 bank failures in the FDIC record, and the 2nd 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 Farmer's and Merchant's Bank fail?
Farmer's and Merchant's Bank was closed by regulators on July 6, 1942.
How big was Farmer's and Merchant's Bank when it failed?
Farmer's and Merchant's Bank had approximately $395K in total assets and $325K 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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