Bank Failure
The Franklin Trust Co.
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Closed December 22, 1941 · Franklin, PA .
- Closing date
- December 22, 1941
- Headquarters
- Franklin, PA
- Total deposits at closing
- $3.2M
- 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 December 22, 1941, regulators closed The Franklin Trust Co., headquartered in Franklin, PA. 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 Franklin Trust Co. fail?
The Franklin Trust Co. was closed by regulators on December 22, 1941.
Other failures in 1941
| Date | Bank | Assets |
|---|---|---|
| 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. | — |
| Jun 23, 1941 | The Exchange State Bank | — |
| Apr 26, 1941 | The First Nat BK & TR Co. of Port Chester | — |
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