Bank Failure
The New Jersey Title Guarantee & Trust Co.
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Closed February 11, 1939 · Jersey City, NJ .
- Closing date
- February 11, 1939
- Headquarters
- Jersey City, NJ
- Total assets at closing
- $30.7M
- Total deposits at closing
- $21.7M
- 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 February 11, 1939, regulators closed The New Jersey Title Guarantee & Trust Co., headquartered in Jersey City, NJ. At closing, the institution held approximately $30.7M in assets and $21.7M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 2039th largest of the 3,526 bank failures in the FDIC record, and the 1st of 60 in 1939. 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 New Jersey Title Guarantee & Trust Co. fail?
The New Jersey Title Guarantee & Trust Co. was closed by regulators on February 11, 1939.
How big was The New Jersey Title Guarantee & Trust Co. when it failed?
The New Jersey Title Guarantee & Trust Co. had approximately $30.7M in total assets and $21.7M in deposits at the time of failure.
Other failures in 1939
| Date | Bank | Assets |
|---|---|---|
| Dec 27, 1939 | The Tuckerton Bank | $735K |
| Dec 11, 1939 | Maynardville State Bank | $218K |
| Dec 6, 1939 | The State Bank of Liebenthal | $60K |
| Dec 4, 1939 | The Yonkers National Bank & Trust Co. | — |
| Nov 25, 1939 | Commercial Bank of Liberty | $548K |
| Nov 25, 1939 | The Farmers State Bank | — |
| Oct 7, 1939 | The Egg Harbor Commercial Bank | — |
| Oct 3, 1939 | Security State Bank | $121K |
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