Bank Failure
The First National Bank of Cripple Creek
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Closed November 30, 1971 · Cripple Creek, CO · FDIC Cert #3007.
- Closing date
- November 30, 1971
- Headquarters
- Cripple Creek, CO
- FDIC Certificate
- 3007
- Total assets at closing
- $1.3M
- 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 November 30, 1971, regulators closed The First National Bank of Cripple Creek, headquartered in Cripple Creek, CO. At closing, the institution held approximately $1.3M in assets and $1.2M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3106th largest of the 3,526 bank failures in the FDIC record, and the 5th of 6 in 1971. 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 First National Bank of Cripple Creek fail?
The First National Bank of Cripple Creek was closed by regulators on November 30, 1971.
How big was The First National Bank of Cripple Creek when it failed?
The First National Bank of Cripple Creek had approximately $1.3M in total assets and $1.2M in deposits at the time of failure.
Other failures in 1971
| Date | Bank | Assets |
|---|---|---|
| Dec 30, 1971 | First Community State Bank of Savannah | $3.7M |
| Apr 5, 1971 | Bank of Salem | $679K |
| Feb 17, 1971 | Farmers State Bank of Carlock | $2.2M |
| Feb 16, 1971 | Birmingham-Bloomfield Bank | $109.7M |
| Jan 25, 1971 | Sharpstown State Bank | $78.9M |
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