Bank Failure
MT. Zion Deposit Bank
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Closed June 25, 1976 · Mt. Zion, KY · FDIC Cert #8780.
- Closing date
- June 25, 1976
- Headquarters
- Mt. Zion, KY
- FDIC Certificate
- 8780
- Total assets at closing
- $507K
- Total deposits at closing
- $555K
- 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 June 25, 1976, regulators closed MT. Zion Deposit Bank, headquartered in Mt. Zion, KY. At closing, the institution held approximately $507K in assets and $555K in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3170th largest of the 3,526 bank failures in the FDIC record, and the 16th of 16 in 1976. 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 MT. Zion Deposit Bank fail?
MT. Zion Deposit Bank was closed by regulators on June 25, 1976.
How big was MT. Zion Deposit Bank when it failed?
MT. Zion Deposit Bank had approximately $507K in total assets and $555K in deposits at the time of failure.
Other failures in 1976
| Date | Bank | Assets |
|---|---|---|
| Dec 3, 1976 | International City Bank and Trust Company | $176.3M |
| Nov 19, 1976 | First State Bank & Trust Co. | $13.8M |
| Oct 19, 1976 | Centennial Bank | $13.7M |
| Oct 8, 1976 | The Hamilton Bank and Trust Company | $40.1M |
| Sep 15, 1976 | American Bank & Trust Company | $224.5M |
| Sep 14, 1976 | The New Boston Bank and Trust Company | $6.7M |
| Jun 28, 1976 | Citizens State Bank | $17.4M |
| Jun 25, 1976 | Coronado National Bank | $2.6M |
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