Bank Failure
Gamaliel Bank
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Closed April 19, 1984 · Gamaliel, KY · FDIC Cert #9312.
- Closing date
- April 19, 1984
- Headquarters
- Gamaliel, KY
- FDIC Certificate
- 9312
- Total assets at closing
- $22.8M
- Total deposits at closing
- $21.5M
- Estimated loss to the insurance fund
- $4.7M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Deposit Bank of Monroe C
Context
On April 19, 1984, regulators closed Gamaliel Bank, headquartered in Gamaliel, KY. At closing, the institution held approximately $22.8M in assets and $21.5M in deposits. The FDIC record names Deposit Bank of Monroe C as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $4.7M.
By assets at closing this is the 2242nd largest of the 3,526 bank failures in the FDIC record, and the 35th of 83 in 1984. It falls in the period the record labels S&L / Banking Crisis (1980-1995), a period with 2,367 failures peaking at 530 in 1989.
Deregulation, interest-rate shocks, and commercial real estate blowups produced the worst US banking failure wave since the Depression. Resulted in FIRREA (1989) and the RTC.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Gamaliel Bank fail?
Gamaliel Bank was closed by regulators on April 19, 1984.
Who acquired Gamaliel Bank?
The FDIC record names Deposit Bank of Monroe C as the acquiring institution in the resolution of Gamaliel Bank.
How big was Gamaliel Bank when it failed?
Gamaliel Bank had approximately $22.8M in total assets and $21.5M in deposits at the time of failure.
Other failures in 1984
| Date | Bank | Assets |
|---|---|---|
| Dec 22, 1984 | First Security Bank | $13.4M |
| Dec 20, 1984 | The Farmers State Bank | $14.6M |
| Dec 18, 1984 | Uehling State Bank | $4.2M |
| Dec 11, 1984 | University Bank of Wichita | $4.7M |
| Dec 7, 1984 | San Marino S&LA | $856.8M |
| Dec 7, 1984 | Farmers State BK of Holyoke | $3.9M |
| Dec 4, 1984 | Golden Spike State Bank | $7.8M |
| Nov 30, 1984 | The Dayton BK & TR Co. | $51.4M |
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