Bank Failure
The First State Bank
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Closed March 25, 1935 · Cheyenne, OK .
- Closing date
- March 25, 1935
- Headquarters
- Cheyenne, OK
- Total assets at closing
- $427K
- Total deposits at closing
- $303K
- 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 25, 1935, regulators closed The First State Bank, headquartered in Cheyenne, OK. At closing, the institution held approximately $427K in assets and $303K in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3177th largest of the 3,526 bank failures in the FDIC record, and the 4th of 25 in 1935. 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 First State Bank fail?
The First State Bank was closed by regulators on March 25, 1935.
How big was The First State Bank when it failed?
The First State Bank had approximately $427K in total assets and $303K in deposits at the time of failure.
Other failures in 1935
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1935 | The Farmers Bank | $55K |
| Dec 14, 1935 | Livingston State Bank | $91K |
| Dec 7, 1935 | Friendship State Bank | $147K |
| Dec 5, 1935 | Farmers Bank of Charlton County | $287K |
| Nov 27, 1935 | Bank of Linden | $224K |
| Nov 26, 1935 | Lennon State Bank | $79K |
| Nov 18, 1935 | Presidio Valley Bank | $73K |
| Nov 16, 1935 | E. P. Wilbur Trust Company | — |
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