Bank Failure
Frontier Trust Company
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Closed October 3, 1955 · Fort Fairfield, ME .
- Closing date
- October 3, 1955
- Headquarters
- Fort Fairfield, ME
- Total assets at closing
- $6.0M
- Total deposits at closing
- $5.5M
- 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 3, 1955, regulators closed Frontier Trust Company, headquartered in Fort Fairfield, ME. At closing, the institution held approximately $6.0M in assets and $5.5M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 2954th largest of the 3,526 bank failures in the FDIC record, and the 1st of 5 in 1955. 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 Trust Company fail?
Frontier Trust Company was closed by regulators on October 3, 1955.
How big was Frontier Trust Company when it failed?
Frontier Trust Company had approximately $6.0M in total assets and $5.5M in deposits at the time of failure.
Other failures in 1955
| Date | Bank | Assets |
|---|---|---|
| Jul 25, 1955 | Joshua Monument Nat Bank-Twentynine Palms | $3.1M |
| Apr 30, 1955 | Bank of North Idaho | $1.1M |
| Apr 30, 1955 | Rathdrum State Bank | $1.0M |
| Jan 27, 1955 | First National Bank of Lewisville | $721K |
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