Bank Failure
Mayfield State Bank
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Closed February 13, 1953 · Mayfield, PA .
- Closing date
- February 13, 1953
- Headquarters
- Mayfield, PA
- Total assets at closing
- $1.4M
- Total deposits at closing
- $1.3M
- 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 February 13, 1953, regulators closed Mayfield State Bank, headquartered in Mayfield, PA. At closing, the institution held approximately $1.4M in assets and $1.3M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3102nd largest of the 3,526 bank failures in the FDIC record, and the 2nd of 2 in 1953. 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 Mayfield State Bank fail?
Mayfield State Bank was closed by regulators on February 13, 1953.
How big was Mayfield State Bank when it failed?
Mayfield State Bank had approximately $1.4M in total assets and $1.3M in deposits at the time of failure.
Other failures in 1953
| Date | Bank | Assets |
|---|---|---|
| May 26, 1953 | First State Bank of Elmwood Park | $17.5M |
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