Bank Failure
Florence Deposit Bank
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Closed July 18, 1934 ยท Florence, IN .
- Closing date
- July 18, 1934
- Headquarters
- Florence, IN
- Total assets at closing
- $105K
- Total deposits at closing
- $69K
- 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 July 18, 1934, regulators closed Florence Deposit Bank, headquartered in Florence, IN. At closing, the institution held approximately $105K in assets and $69K in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3304th largest of the 3,526 bank failures in the FDIC record, and the 5th 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 Florence Deposit Bank fail?
Florence Deposit Bank was closed by regulators on July 18, 1934.
How big was Florence Deposit Bank when it failed?
Florence Deposit Bank had approximately $105K in total assets and $69K 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 |
| Oct 11, 1934 | Farmers & Traders Bank | $46K |
| Sep 13, 1934 | Farmers State Bank of Bongards | $91K |
| Aug 6, 1934 | Bank of Lewisport | $81K |
| 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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