Bank Failure
The Sheldon National Bank
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Closed January 16, 1961 · Sheldon, IA .
- Closing date
- January 16, 1961
- Headquarters
- Sheldon, IA
- Total assets at closing
- $4.4M
- Total deposits at closing
- $3.9M
- 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 January 16, 1961, regulators closed The Sheldon National Bank, headquartered in Sheldon, IA. At closing, the institution held approximately $4.4M in assets and $3.9M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3015th largest of the 3,526 bank failures in the FDIC record, and the 1st of 5 in 1961. 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 Sheldon National Bank fail?
The Sheldon National Bank was closed by regulators on January 16, 1961.
How big was The Sheldon National Bank when it failed?
The Sheldon National Bank had approximately $4.4M in total assets and $3.9M in deposits at the time of failure.
Other failures in 1961
| Date | Bank | Assets |
|---|---|---|
| Dec 30, 1961 | First State Bank | $1.9M |
| Dec 19, 1961 | The First National Bank of Maud | $1.6M |
| Sep 7, 1961 | Bank of Ochlochnee | $984K |
| Aug 11, 1961 | Bank of Earlsboro | $962K |
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