Bank Failure
First State Bank of Max
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Closed December 21, 1936 · Max, ND .
- Closing date
- December 21, 1936
- Headquarters
- Max, ND
- Total deposits at closing
- $100K
- 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 21, 1936, regulators closed First State Bank of Max, headquartered in Max, ND. The FDIC record does not name an acquiring institution.
The FDIC record for 1936 holds 69 failures. 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 First State Bank of Max fail?
First State Bank of Max was closed by regulators on December 21, 1936.
Other failures in 1936
| Date | Bank | Assets |
|---|---|---|
| Dec 31, 1936 | Central State Bank of Sherman | $312K |
| Dec 21, 1936 | Bank of Berthold | — |
| Dec 21, 1936 | First State Bank | — |
| Dec 21, 1936 | The Cummings State Bank | — |
| Dec 21, 1936 | Reservation State Bank | — |
| Dec 21, 1936 | First State Bank of Powers Lake | — |
| Dec 19, 1936 | Northern and Dakota Trust Company | — |
| Dec 19, 1936 | First International Bank | — |
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