Bank Failure
First National Bank in Cecil
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Closed October 9, 1950 · Cecil, PA .
- Closing date
- October 9, 1950
- Headquarters
- Cecil, PA
- Total assets at closing
- $638K
- Total deposits at closing
- $2.2M
- 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 9, 1950, regulators closed First National Bank in Cecil, headquartered in Cecil, PA. At closing, the institution held approximately $638K in assets and $2.2M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3155th largest of the 3,526 bank failures in the FDIC record, and the 4th of 4 in 1950. 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 National Bank in Cecil fail?
First National Bank in Cecil was closed by regulators on October 9, 1950.
How big was First National Bank in Cecil when it failed?
First National Bank in Cecil had approximately $638K in total assets and $2.2M in deposits at the time of failure.
Other failures in 1950
| Date | Bank | Assets |
|---|---|---|
| Aug 14, 1950 | The Farmers First National Bank of Minooka | $1.3M |
| Jul 24, 1950 | The Bank of Aurora | $1.3M |
| Apr 3, 1950 | The Westphalia State Bank | $744K |
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