Bank Failure
Lennon State Bank
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Closed November 26, 1935 · Lennon, MI .
- Closing date
- November 26, 1935
- Headquarters
- Lennon, MI
- Total assets at closing
- $79K
- Total deposits at closing
- $74K
- 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 November 26, 1935, regulators closed Lennon State Bank, headquartered in Lennon, MI. At closing, the institution held approximately $79K in assets and $74K in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3337th largest of the 3,526 bank failures in the FDIC record, and the 21st of 25 in 1935. 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 Lennon State Bank fail?
Lennon State Bank was closed by regulators on November 26, 1935.
How big was Lennon State Bank when it failed?
Lennon State Bank had approximately $79K in total assets and $74K in deposits at the time of failure.
Other failures in 1935
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1935 | The Farmers Bank | $55K |
| Dec 14, 1935 | Livingston State Bank | $91K |
| Dec 7, 1935 | Friendship State Bank | $147K |
| Dec 5, 1935 | Farmers Bank of Charlton County | $287K |
| Nov 27, 1935 | Bank of Linden | $224K |
| Nov 18, 1935 | Presidio Valley Bank | $73K |
| Nov 16, 1935 | E. P. Wilbur Trust Company | — |
| Oct 23, 1935 | Buna State Bank | $47K |
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