Bank Failure

First Community State Bank of Savannah

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Closed December 30, 1971 · Savannah, MO .

Closing date: December 30, 1971
Headquarters: Savannah, MO
Total assets at closing: $3.7M
Total deposits at closing: $3.5M
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 December 30, 1971, regulators closed First Community State Bank of Savannah, headquartered in Savannah, MO. At closing, the institution held approximately $3.7M in assets and $3.5M in deposits. The FDIC record does not name an acquiring institution.

By assets at closing this is the 3045th largest of the 3,526 bank failures in the FDIC record, and the 3rd 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 First Community State Bank of Savannah fail?

First Community State Bank of Savannah was closed by regulators on December 30, 1971.

How big was First Community State Bank of Savannah when it failed?

First Community State Bank of Savannah had approximately $3.7M in total assets and $3.5M in deposits at the time of failure.

Other failures in 1971

Date	Bank	HQ	Assets
Nov 30, 1971	The First National Bank of Cripple Creek	Cripple Creek, CO	$1.3M
Apr 5, 1971	Bank of Salem	Salem, NE	$679K
Feb 17, 1971	Farmers State Bank of Carlock	Carlock, IL	$2.2M
Feb 16, 1971	Birmingham-Bloomfield Bank	Birmingham, MI	$109.7M
Jan 25, 1971	Sharpstown State Bank	Houston, TX	$78.9M

All 1971 events ›

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