Bank Failure
The Westphalia State Bank
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Closed April 3, 1950 · Westphalia, MI .
- Closing date
- April 3, 1950
- Headquarters
- Westphalia, MI
- Total assets at closing
- $744K
- Total deposits at closing
- $1.1M
- 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 April 3, 1950, regulators closed The Westphalia State Bank, headquartered in Westphalia, MI. At closing, the institution held approximately $744K in assets and $1.1M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3144th largest of the 3,526 bank failures in the FDIC record, and the 3rd of 4 in 1950. 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 Westphalia State Bank fail?
The Westphalia State Bank was closed by regulators on April 3, 1950.
How big was The Westphalia State Bank when it failed?
The Westphalia State Bank had approximately $744K in total assets and $1.1M in deposits at the time of failure.
Other failures in 1950
| Date | Bank | Assets |
|---|---|---|
| Oct 9, 1950 | First National Bank in Cecil | $638K |
| Aug 14, 1950 | The Farmers First National Bank of Minooka | $1.3M |
| Jul 24, 1950 | The Bank of Aurora | $1.3M |
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