Bank Failure
The Exchange State Bank
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Closed June 23, 1941 · Parsons, KS .
- Closing date
- June 23, 1941
- Headquarters
- Parsons, KS
- Total deposits at closing
- $455K
- 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 June 23, 1941, regulators closed The Exchange State Bank, headquartered in Parsons, KS. The FDIC record does not name an acquiring institution.
The FDIC record for 1941 holds 15 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 The Exchange State Bank fail?
The Exchange State Bank was closed by regulators on June 23, 1941.
Other failures in 1941
| Date | Bank | Assets |
|---|---|---|
| Dec 22, 1941 | The Franklin Trust Co. | — |
| Dec 22, 1941 | The Lamberton National Bank of Franklin | — |
| Dec 13, 1941 | The St. Charles State Bank | — |
| Dec 11, 1941 | Banco Di Napoli Trust Co. of New York | $13.8M |
| Nov 29, 1941 | The First National Bank of Dodgeville | $941K |
| Nov 1, 1941 | The First National Bank of Forestville | $328K |
| Sep 29, 1941 | Bank of Au Sable Forks, N.Y. | — |
| Apr 26, 1941 | The First Nat BK & TR Co. of Port Chester | — |
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