Bank Failure
Farmers State Bank
Closed February 18, 1937 · Corsica, SD .
- Closing date
- February 18, 1937
- Headquarters
- Corsica, SD
- Total assets at closing
- $205K
- Total deposits at closing
- $164K
- Estimated loss to DIF
- Not published (the FDIC feed carries no estimate for this failure)
- Resolution
- Failure (closed by regulators)
Context
On February 18, 1937, regulators closed Farmers State Bank, headquartered in Corsica, SD. At closing, the institution held approximately $205K in assets and $164K in deposits. The FDIC resolved the institution without a single-acquirer transaction.
By assets at closing this is the 3237th largest of the 3,524 bank failures in the FDIC record, and the 25th of 75 in 1937. 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 State Bank fail?
Farmers State Bank was closed by regulators on February 18, 1937.
How big was Farmers State Bank when it failed?
Farmers State Bank had approximately $205K in total assets and $164K in deposits at the time of failure.
Other failures in 1937
| Date | Bank | Assets |
|---|---|---|
| Dec 20, 1937 | First Nat BK & TR Co. of Manhasset | — |
| Dec 17, 1937 | Big Falls State Bank | $103K |
| Dec 2, 1937 | Nevada Trust Company | $242K |
| Dec 2, 1937 | Peoples United Bank | — |
| Nov 30, 1937 | Sterling State Bank | $121K |
| Nov 27, 1937 | Loganville State Bank | — |
| Nov 24, 1937 | First State Bank of Cobden | — |
| Nov 19, 1937 | Bank of Swifton | $208K |
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