Bank Failure
Farmers & Traders Bank
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Closed October 11, 1934 ยท Porterfield, WI .
- Closing date
- October 11, 1934
- Headquarters
- Porterfield, WI
- Total assets at closing
- $46K
- Total deposits at closing
- $32K
- 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 11, 1934, regulators closed Farmers & Traders Bank, headquartered in Porterfield, WI. At closing, the institution held approximately $46K in assets and $32K in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3369th largest of the 3,526 bank failures in the FDIC record, and the 9th of 9 in 1934. 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 & Traders Bank fail?
Farmers & Traders Bank was closed by regulators on October 11, 1934.
How big was Farmers & Traders Bank when it failed?
Farmers & Traders Bank had approximately $46K in total assets and $32K in deposits at the time of failure.
Other failures in 1934
| Date | Bank | Assets |
|---|---|---|
| Nov 16, 1934 | The State Bank | $195K |
| Oct 13, 1934 | Pickens County Bank | $243K |
| Sep 13, 1934 | Farmers State Bank of Bongards | $91K |
| Aug 6, 1934 | Bank of Lewisport | $81K |
| Jul 18, 1934 | Florence Deposit Bank | $105K |
| Jul 18, 1934 | First National Bank of Lima | $91K |
| May 28, 1934 | Fon Du Lac State Bank | $374K |
| Apr 19, 1934 | Bank of America Trust Co. | $1.4M |
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