Bank Failure
Merchants Banking Trust Company
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Closed September 12, 1942 · Mahanoy, PA .
- Closing date
- September 12, 1942
- Headquarters
- Mahanoy, PA
- Total deposits at closing
- $859K
- 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 September 12, 1942, regulators closed Merchants Banking Trust Company, headquartered in Mahanoy, PA. The FDIC record does not name an acquiring institution.
The FDIC record for 1942 holds 20 failures. 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 Merchants Banking Trust Company fail?
Merchants Banking Trust Company was closed by regulators on September 12, 1942.
Other failures in 1942
| Date | Bank | Assets |
|---|---|---|
| Nov 28, 1942 | Guarantee TR & Safe Dep. CO.-MT.CARMEL | — |
| Nov 18, 1942 | The Citizens Bank of Liberty | $258K |
| Oct 17, 1942 | The Farmers National Bank of Selinsgrove | — |
| Oct 2, 1942 | Farmers Bank | $580K |
| Aug 29, 1942 | The Harney County National Bank of Burns | — |
| Aug 1, 1942 | The First National Bank of Lehighton | — |
| Aug 1, 1942 | Citizens Nat BK & TR Co. of Lehighton | — |
| Jul 6, 1942 | Farmer's and Merchant's Bank | $395K |
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