Bank Failure
Peoples United Bank
BankRegReports is independent of Peoples United Bank and never asks for online banking logins or passwords.
Closed December 2, 1937 · Southport, NC .
- Closing date
- December 2, 1937
- Headquarters
- Southport, NC
- Total deposits at closing
- $162K
- 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 2, 1937, regulators closed Peoples United Bank, headquartered in Southport, NC. The FDIC record does not name an acquiring institution.
The FDIC record for 1937 holds 75 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 Peoples United Bank fail?
Peoples United Bank was closed by regulators on December 2, 1937.
Other failures in 1937
| Date | Bank | Assets |
|---|---|---|
| Dec 20, 1937 | First Nat BK & TR Co. of Manhasset | — |
| Dec 17, 1937 | Big Falls State Bank | $103K |
| Dec 2, 1937 | Nevada Trust Company | $242K |
| Nov 30, 1937 | Sterling State Bank | $121K |
| Nov 27, 1937 | Loganville State Bank | — |
| Nov 24, 1937 | First State Bank of Cobden | — |
| Nov 19, 1937 | Bank of Swifton | $208K |
| Nov 4, 1937 | Commercial Bank & Trust Company | $853K |
Explore: all failures · NC bank events · 1937 events · events hub