Bank Failure
Peoples State Bank
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Closed May 5, 1958 · Richland Springs, TX .
- Closing date
- May 5, 1958
- Headquarters
- Richland Springs, TX
- Total assets at closing
- $618K
- Total deposits at closing
- $574K
- 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 May 5, 1958, regulators closed Peoples State Bank, headquartered in Richland Springs, TX. At closing, the institution held approximately $618K in assets and $574K in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3158th largest of the 3,526 bank failures in the FDIC record, and the 4th of 4 in 1958. 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 Peoples State Bank fail?
Peoples State Bank was closed by regulators on May 5, 1958.
How big was Peoples State Bank when it failed?
Peoples State Bank had approximately $618K in total assets and $574K in deposits at the time of failure.
Other failures in 1958
| Date | Bank | Assets |
|---|---|---|
| Jul 17, 1958 | The Manufacturers' Bank of Edgewater | $2.4M |
| May 26, 1958 | The Rushville Banking Company | $4.5M |
| Mar 17, 1958 | The First National Bank of Halfway | $1.4M |
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