Bank Failure
Farmers State Bank of Carlock
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Closed February 17, 1971 · Carlock, IL · FDIC Cert #10472.
- Closing date
- February 17, 1971
- Headquarters
- Carlock, IL
- FDIC Certificate
- 10472
- Total assets at closing
- $2.2M
- Total deposits at closing
- $2.1M
- 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 February 17, 1971, regulators closed Farmers State Bank of Carlock, headquartered in Carlock, IL. At closing, the institution held approximately $2.2M in assets and $2.1M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3082nd largest of the 3,526 bank failures in the FDIC record, and the 4th of 6 in 1971. 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 State Bank of Carlock fail?
Farmers State Bank of Carlock was closed by regulators on February 17, 1971.
How big was Farmers State Bank of Carlock when it failed?
Farmers State Bank of Carlock had approximately $2.2M in total assets and $2.1M in deposits at the time of failure.
Other failures in 1971
| Date | Bank | Assets |
|---|---|---|
| Dec 30, 1971 | First Community State Bank of Savannah | $3.7M |
| Nov 30, 1971 | The First National Bank of Cripple Creek | $1.3M |
| Apr 5, 1971 | Bank of Salem | $679K |
| Feb 16, 1971 | Birmingham-Bloomfield Bank | $109.7M |
| Jan 25, 1971 | Sharpstown State Bank | $78.9M |
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