Bank Failure
The Bank of Aurora
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Closed July 24, 1950 · Aurora, NC .
- Closing date
- July 24, 1950
- Headquarters
- Aurora, NC
- Total assets at closing
- $1.3M
- Total deposits at closing
- $991K
- 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 July 24, 1950, regulators closed The Bank of Aurora, headquartered in Aurora, NC. At closing, the institution held approximately $1.3M in assets and $991K in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3107th largest of the 3,526 bank failures in the FDIC record, and the 2nd of 4 in 1950. 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 The Bank of Aurora fail?
The Bank of Aurora was closed by regulators on July 24, 1950.
How big was The Bank of Aurora when it failed?
The Bank of Aurora had approximately $1.3M in total assets and $991K in deposits at the time of failure.
Other failures in 1950
| Date | Bank | Assets |
|---|---|---|
| Oct 9, 1950 | First National Bank in Cecil | $638K |
| Aug 14, 1950 | The Farmers First National Bank of Minooka | $1.3M |
| Apr 3, 1950 | The Westphalia State Bank | $744K |
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