Bank Failure
First State Bank
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Closed December 30, 1961 · Premont, TX .
- Closing date
- December 30, 1961
- Headquarters
- Premont, TX
- Total assets at closing
- $1.9M
- Total deposits at closing
- $1.7M
- 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, 1961, regulators closed First State Bank, headquartered in Premont, TX. At closing, the institution held approximately $1.9M in assets and $1.7M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3089th largest of the 3,526 bank failures in the FDIC record, and the 2nd of 5 in 1961. 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 State Bank fail?
First State Bank was closed by regulators on December 30, 1961.
How big was First State Bank when it failed?
First State Bank had approximately $1.9M in total assets and $1.7M in deposits at the time of failure.
Other failures in 1961
| Date | Bank | Assets |
|---|---|---|
| Dec 19, 1961 | The First National Bank of Maud | $1.6M |
| Sep 7, 1961 | Bank of Ochlochnee | $984K |
| Aug 11, 1961 | Bank of Earlsboro | $962K |
| Jan 16, 1961 | The Sheldon National Bank | $4.4M |
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