Bank Failure
Public Bank
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Closed October 12, 1966 · Detroit, MI .
- Closing date
- October 12, 1966
- Headquarters
- Detroit, MI
- Total assets at closing
- $110.1M
- Total deposits at closing
- $93.0M
- 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 October 12, 1966, regulators closed Public Bank, headquartered in Detroit, MI. At closing, the institution held approximately $110.1M in assets and $93.0M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 1138th largest of the 3,526 bank failures in the FDIC record, and the 1st of 7 in 1966. 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 Public Bank fail?
Public Bank was closed by regulators on October 12, 1966.
How big was Public Bank when it failed?
Public Bank had approximately $110.1M in total assets and $93.0M in deposits at the time of failure.
Other failures in 1966
| Date | Bank | Assets |
|---|---|---|
| Oct 17, 1966 | First State Bank of Tuscola | $3.3M |
| Apr 7, 1966 | Bank of Gray Summit | $1.9M |
| Mar 17, 1966 | Saguache County National Bank | $512K |
| Jan 31, 1966 | Blanket State Bank | $1.3M |
| Jan 24, 1966 | Citizens Bank | $832K |
| Jan 12, 1966 | Five Points National Bank | $2.7M |
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