Bank Failure
Frontier Bank
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Closed July 31, 1964 · Covelo, CA .
- Closing date
- July 31, 1964
- Headquarters
- Covelo, CA
- Total assets at closing
- $2.6M
- Total deposits at closing
- $2.3M
- 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 31, 1964, regulators closed Frontier Bank, headquartered in Covelo, CA. At closing, the institution held approximately $2.6M in assets and $2.3M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3073rd largest of the 3,526 bank failures in the FDIC record, and the 4th of 7 in 1964. 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 Frontier Bank fail?
Frontier Bank was closed by regulators on July 31, 1964.
How big was Frontier Bank when it failed?
Frontier Bank had approximately $2.6M in total assets and $2.3M in deposits at the time of failure.
Other failures in 1964
| Date | Bank | Assets |
|---|---|---|
| Oct 29, 1964 | Nebraska St Bank of Valentine, Nebraska | $7.8M |
| Sep 4, 1964 | Crown Savings Bank | $7.9M |
| Jul 20, 1964 | Belleview Valley Bank | $1.3M |
| Jul 4, 1964 | First State Bank | $1.2M |
| Mar 17, 1964 | The State Savings Bank of Minden City | $1.3M |
| Mar 10, 1964 | The First National Bank of Marlin | $3.7M |
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