Bank Failure
Watkins Banking Company
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Closed July 21, 1978 · Faunsdale, AL · FDIC Cert #856.
- Closing date
- July 21, 1978
- Headquarters
- Faunsdale, AL
- FDIC Certificate
- 856
- Total assets at closing
- $1.7M
- Total deposits at closing
- $1.3M
- 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 July 21, 1978, regulators closed Watkins Banking Company, headquartered in Faunsdale, AL. At closing, the institution held approximately $1.7M in assets and $1.3M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3096th largest of the 3,526 bank failures in the FDIC record, and the 7th of 7 in 1978. 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 Watkins Banking Company fail?
Watkins Banking Company was closed by regulators on July 21, 1978.
How big was Watkins Banking Company when it failed?
Watkins Banking Company had approximately $1.7M in total assets and $1.3M in deposits at the time of failure.
Other failures in 1978
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1978 | North Point State Bank | $26.5M |
| Sep 5, 1978 | Banco de Ahorro De Puerto Rico | $9.4M |
| Mar 31, 1978 | Banco Credito Y De Ahorro Ponceno | $712.5M |
| Mar 1, 1978 | Wilcox County Bank | $12.7M |
| Jan 26, 1978 | First Bank of Macon County | $4.5M |
| Jan 19, 1978 | The Drovers' National Bank of Chicago | $226.8M |
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