Bank Failure
The First State Bank
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Closed December 18, 1948 · Franklin, TX .
- Closing date
- December 18, 1948
- Headquarters
- Franklin, TX
- Total assets at closing
- $694K
- Total deposits at closing
- $609K
- 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 December 18, 1948, regulators closed The First State Bank, headquartered in Franklin, TX. At closing, the institution held approximately $694K in assets and $609K in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3152nd largest of the 3,526 bank failures in the FDIC record, and the 3rd of 3 in 1948. 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 State Bank fail?
The First State Bank was closed by regulators on December 18, 1948.
How big was The First State Bank when it failed?
The First State Bank had approximately $694K in total assets and $609K in deposits at the time of failure.
Other failures in 1948
| Date | Bank | Assets |
|---|---|---|
| Nov 20, 1948 | The American National Bank of Pryor Creek | $1.8M |
| Jul 24, 1948 | Columbus Trust Company | $7.9M |
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