Bank Failure
North Point State Bank
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Closed December 16, 1978 · Arlington, IL · FDIC Cert #20315.
- Closing date
- December 16, 1978
- Headquarters
- Arlington, IL
- FDIC Certificate
- 20315
- Total assets at closing
- $26.5M
- Total deposits at closing
- $21.9M
- 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 December 16, 1978, regulators closed North Point State Bank, headquartered in Arlington, IL. At closing, the institution held approximately $26.5M in assets and $21.9M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 2137th largest of the 3,526 bank failures in the FDIC record, and the 3rd of 7 in 1978. 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 North Point State Bank fail?
North Point State Bank was closed by regulators on December 16, 1978.
How big was North Point State Bank when it failed?
North Point State Bank had approximately $26.5M in total assets and $21.9M in deposits at the time of failure.
Other failures in 1978
| Date | Bank | Assets |
|---|---|---|
| Sep 5, 1978 | Banco de Ahorro De Puerto Rico | $9.4M |
| Jul 21, 1978 | Watkins Banking Company | $1.7M |
| Mar 31, 1978 | Banco Credito Y De Ahorro Ponceno | $712.5M |
| Mar 1, 1978 | Wilcox County Bank | $12.7M |
| Jan 26, 1978 | First Bank of Macon County | $4.5M |
| Jan 19, 1978 | The Drovers' National Bank of Chicago | $226.8M |
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