Closed Thursday, May 3, 2001 · Malta, Morgan County, Ohio
Malta National Bank
No bank in Ohio had failed for eight years, since Crestline Building and Loan Association closed in 1992. Malta National Bank's founding in 1872 put it past its 100th year when it closed. It reported a net loss in five of its final nine reporting years.
On the books, 1993 to 2001
Total assets peaked at $11.6 million in the fourth quarter of 1997 and were 21% lower at the final report. Equity capital went from 7.6% of assets in the second quarter of 1993 to 3.4% at the last report. The deepest annual loss, $566 thousand, was booked in 2000.* 2001: January to March only, the last report before closing.
Size against the other 2001 failures
Total assets of each 2001 failure, log scale; Malta National Bank in red.
By assets it ranked fourth of the 4 failures in 2001. Within Ohio it ranks 33rd by size of the 38 failures recorded since 1934. Across the failures of 2001, the median estimated loss came to 11% of assets. The next-larger failure of that year was First Alliance Bank & Trust Co. of Manchester, New Hampshire ($17.4 million, loss 4.7% of assets). Every 2001 failure in the explorer.
Failures in Ohio
The next was Oakwood Deposit Bank Co. of Oakwood, on February 1, 2002. No other failed bank in the FDIC's records was based in Morgan County.