Bank Failure
Rahway Trust Company
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Closed March 11, 1939 · Rahway, NJ .
- Closing date
- March 11, 1939
- Headquarters
- Rahway, NJ
- Total deposits at closing
- $1.2M
- 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 March 11, 1939, regulators closed Rahway Trust Company, headquartered in Rahway, NJ. The FDIC record does not name an acquiring institution.
The FDIC record for 1939 holds 60 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 Rahway Trust Company fail?
Rahway Trust Company was closed by regulators on March 11, 1939.
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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