Bank Failure
Farmers & Merchants State Bank
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Closed October 8, 1949 · Spencerville, IN .
- Closing date
- October 8, 1949
- Headquarters
- Spencerville, IN
- Total assets at closing
- $354K
- Total deposits at closing
- $437K
- 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 8, 1949, regulators closed Farmers & Merchants State Bank, headquartered in Spencerville, IN. At closing, the institution held approximately $354K in assets and $437K in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3190th largest of the 3,526 bank failures in the FDIC record, and the 4th of 4 in 1949. 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 Farmers & Merchants State Bank fail?
Farmers & Merchants State Bank was closed by regulators on October 8, 1949.
How big was Farmers & Merchants State Bank when it failed?
Farmers & Merchants State Bank had approximately $354K in total assets and $437K in deposits at the time of failure.
Other failures in 1949
| Date | Bank | Assets |
|---|---|---|
| Jun 11, 1949 | The Citizens Banking Company | $740K |
| Apr 30, 1949 | Stockmens Bank of Martinsdale | $634K |
| Feb 19, 1949 | The First National Bank of Dyer | $3.2M |
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