Bank Failure
Farmers Bank
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Closed March 23, 1940 · DRY Ridge, KY .
- Closing date
- March 23, 1940
- Headquarters
- DRY Ridge, KY
- Total assets at closing
- $363K
- Total deposits at closing
- $286K
- 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 23, 1940, regulators closed Farmers Bank, headquartered in DRY Ridge, KY. At closing, the institution held approximately $363K in assets and $286K in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3187th largest of the 3,526 bank failures in the FDIC record, and the 5th of 43 in 1940. 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 Farmers Bank fail?
Farmers Bank was closed by regulators on March 23, 1940.
How big was Farmers Bank when it failed?
Farmers Bank had approximately $363K in total assets and $286K in deposits at the time of failure.
Other failures in 1940
| Date | Bank | Assets |
|---|---|---|
| Dec 4, 1940 | The American Nat BK of Santa Monica | — |
| Nov 23, 1940 | The State Exchange Bank | — |
| Nov 19, 1940 | The First National Bank of Burlingame | $301K |
| Oct 25, 1940 | Bank of Eagle | $457K |
| Oct 4, 1940 | Savings Bank of Nanticoke | $190K |
| Sep 18, 1940 | The Bank of Leslie | $141K |
| Sep 14, 1940 | First Citizens Bank & Trust Co. of Utica | — |
| Aug 24, 1940 | MT. Union State Bank | — |
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