Bank Failure
Providence Citizens Bank
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Closed September 1, 1939 · Providence, KY .
- Closing date
- September 1, 1939
- Headquarters
- Providence, KY
- Total assets at closing
- $306K
- Total deposits at closing
- $251K
- 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 September 1, 1939, regulators closed Providence Citizens Bank, headquartered in Providence, KY. At closing, the institution held approximately $306K in assets and $251K in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3203rd largest of the 3,526 bank failures in the FDIC record, and the 14th 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 Providence Citizens Bank fail?
Providence Citizens Bank was closed by regulators on September 1, 1939.
How big was Providence Citizens Bank when it failed?
Providence Citizens Bank had approximately $306K in total assets and $251K 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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