Bank Failure
Merchants & Farmers Bank
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Closed March 23, 1939 · Atkins, AR .
- Closing date
- March 23, 1939
- Headquarters
- Atkins, AR
- Total assets at closing
- $223K
- Total deposits at closing
- $192K
- 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 March 23, 1939, regulators closed Merchants & Farmers Bank, headquartered in Atkins, AR. At closing, the institution held approximately $223K in assets and $192K in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3229th largest of the 3,526 bank failures in the FDIC record, and the 17th of 60 in 1939. 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 & Farmers Bank fail?
Merchants & Farmers Bank was closed by regulators on March 23, 1939.
How big was Merchants & Farmers Bank when it failed?
Merchants & Farmers Bank had approximately $223K in total assets and $192K in deposits at the time of failure.
Other failures in 1939
| Date | Bank | Assets |
|---|---|---|
| Dec 27, 1939 | The Tuckerton Bank | $735K |
| Dec 11, 1939 | Maynardville State Bank | $218K |
| Dec 6, 1939 | The State Bank of Liebenthal | $60K |
| Dec 4, 1939 | The Yonkers National Bank & Trust Co. | — |
| Nov 25, 1939 | Commercial Bank of Liberty | $548K |
| Nov 25, 1939 | The Farmers State Bank | — |
| Oct 7, 1939 | The Egg Harbor Commercial Bank | — |
| Oct 3, 1939 | Security State Bank | $121K |
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