Bank Failure
Sterling State Bank
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Closed November 30, 1937 · Sterling, ND .
- Closing date
- November 30, 1937
- Headquarters
- Sterling, ND
- Total assets at closing
- $121K
- Total deposits at closing
- $84K
- 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 November 30, 1937, regulators closed Sterling State Bank, headquartered in Sterling, ND. At closing, the institution held approximately $121K in assets and $84K in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3294th largest of the 3,526 bank failures in the FDIC record, and the 32nd of 75 in 1937. 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 Sterling State Bank fail?
Sterling State Bank was closed by regulators on November 30, 1937.
How big was Sterling State Bank when it failed?
Sterling State Bank had approximately $121K in total assets and $84K in deposits at the time of failure.
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 |
| Dec 2, 1937 | Peoples United Bank | — |
| 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 |
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