Bank Failure
Gateway National Bank
BankRegReports is independent of Gateway National Bank and never asks for online banking logins or passwords.
Closed July 14, 1979 · Chicago, IL · FDIC Cert #17710.
- Closing date
- July 14, 1979
- Headquarters
- Chicago, IL
- FDIC Certificate
- 17710
- Total assets at closing
- $16.9M
- Total deposits at closing
- $9.2M
- 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 14, 1979, regulators closed Gateway National Bank, headquartered in Chicago, IL. At closing, the institution held approximately $16.9M in assets and $9.2M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 2465th largest of the 3,526 bank failures in the FDIC record, and the 3rd of 10 in 1979. 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 Gateway National Bank fail?
Gateway National Bank was closed by regulators on July 14, 1979.
How big was Gateway National Bank when it failed?
Gateway National Bank had approximately $16.9M in total assets and $9.2M in deposits at the time of failure.
Other failures in 1979
| Date | Bank | Assets |
|---|---|---|
| Oct 12, 1979 | Livingston State Bank | $12.7M |
| Oct 12, 1979 | American National Bank | $10.7M |
| Sep 28, 1979 | Fidelity Bank | $32.8M |
| Sep 21, 1979 | The Farmers State Bank | $5.0M |
| Jul 14, 1979 | The Guaranty Bank & Trust Company | $7.9M |
| Jun 16, 1979 | Bank of Enville | $3.5M |
| Jun 14, 1979 | Southern National Bank | $32.6M |
| Jan 26, 1979 | Village Bank | $5.1M |
Explore: all failures · IL bank events · 1979 events · events hub