Failed Bank List

43 failures · $8.0 million in assets

Bank failures in 1940

43 insured banks failed in 1940, down from 60 in 1939. Together they reported $8.0 million in assets, with no estimated loss recorded. The largest was Bankers Trust Company of Atlantic City, New Jersey, at $2.1 million. New York led with 11 failures, ahead of New Jersey with 5.

Week by week

  • $1 billion or more
  • $100 million to $1 billion
  • under $100 million
Bank failures in 1940 by week of closingGuaranty Bond State Bank, 1940-01-04The Citizens State Bank of Niangua, 1940-01-12Integrity Trust Company, 1940-01-13Bankers Trust Company, 1940-02-01Woodcliff Trust Company, 1940-02-03Bank of Brocton, 1940-02-24The National Bank of Westfield, 1940-02-24Hartford Savings Bank and Trust Company, 1940-03-09Eugene State Bank, 1940-03-13The Swedesboro National Bank, 1940-03-16Farmers Bank, 1940-03-23The First National Bank of Wenatchee, 1940-03-26Blairsville Savings and Trust Company, 1940-04-04Baldwinsville State Bank, 1940-04-06First Trust & Deposit Company, 1940-04-06Ashley State Bank, 1940-04-18Bank of Moreland, 1940-04-19First State Bank, 1940-04-18Bank of Reeder, 1940-04-17The First National Bank of Harrison, 1940-04-20The Rye National Bank, 1940-04-20The First National Bank of Bally, 1940-04-27Mackey State Bank, 1940-05-09The Southampton Bank, 1940-06-08First State Bank of Stonewall, 1940-06-13The Lucerne State Bank, 1940-06-22First State Bank of Scotch Plains, 1940-06-22The Westfield Trust Company, 1940-06-22Waushara County Bank, 1940-06-25Kane Trust and Savings Bank, 1940-07-02Chaseburg State Bank, 1940-07-13The Claxton State Bank, 1940-07-20Mount Pleasant Bank & Trust Co., 1940-07-20Bank of Williamsville, 1940-07-27Badger State Bank, 1940-08-03Mt. Union State Bank, 1940-08-24First Citizens Bank & Trust Co. of Utica, 1940-09-14The Bank of Leslie, 1940-09-18Savings Bank of Nanticoke, 1940-10-04Bank of Eagle, 1940-10-25The First National Bank of Burlingame, 1940-11-19The State Exchange Bank, 1940-11-23The American Nat Bk of Santa Monica, 1940-12-04JanFebMarAprMayJunJulAugSepOctNovDec
One square per failed bank, stacked in the week it closed. 9% of these closings fell on a Friday. The busiest day was Saturday, June 22, 1940, with three banks closed.

Where they failed

Failures by state in 1940: New York 11, New Jersey 5, Pennsylvania 4, North Dakota 3, Wisconsin 3, Missouri 2, Kentucky 2, Indiana 2, Georgia 2, Texas 1, Vermont 1, Washington 1 and others.

Explore

Filter and sort the 1940 failures by state, size or loss. Other years: 1939 · 1941.

All 43 failures in 1940, in closing order
ClosedBankLocationTotal assetsEst. loss
January 4, 1940Guaranty Bond State BankNorth Zulch, TX$169 thousandnot estimated
January 12, 1940The Citizens State Bank of NianguaNiangua, MO$143 thousandnot estimated
January 13, 1940Integrity Trust CompanyPhiladelphia, PAnot reportednot estimated
February 1, 1940Bankers Trust CompanyAtlantic City, NJ$2.1 millionnot estimated
February 3, 1940Woodcliff Trust CompanyNorth Bergen, NJnot reportednot estimated
February 24, 1940Bank of BroctonBrocton, NYnot reportednot estimated
February 24, 1940The National Bank of WestfieldWestfield, NYnot reportednot estimated
March 9, 1940Hartford Savings Bank and Trust CompanyWhite River Junction, VTnot reportednot estimated
March 13, 1940Eugene State BankEugene, MO$128 thousandnot estimated
March 16, 1940The Swedesboro National BankSwedesboro, NJnot reportednot estimated
March 23, 1940Farmers BankDry Ridge, KY$363 thousandnot estimated
March 26, 1940The First National Bank of WenatcheeWenatchee, WAnot reportednot estimated
April 4, 1940Blairsville Savings and Trust CompanyBlairsville, PA$1.8 millionnot estimated
April 6, 1940Baldwinsville State BankBaldwinsville, NYnot reportednot estimated
April 6, 1940First Trust & Deposit CompanySyracuse, NYnot reportednot estimated
April 17, 1940Bank of ReederReeder, NDnot reportednot estimated
April 18, 1940Ashley State BankAshley, ND$247 thousandnot estimated
April 18, 1940First State BankWishek, ND$136 thousandnot estimated
April 19, 1940Bank of MorelandMoreland, KY$142 thousandnot estimated
April 20, 1940The First National Bank of HarrisonHarrison, NYnot reportednot estimated
April 20, 1940The Rye National BankRye, NYnot reportednot estimated
April 27, 1940The First National Bank of BallyBally, PAnot reportednot estimated
May 9, 1940Mackey State BankMackey, IN$40 thousandnot estimated
June 8, 1940The Southampton BankSouthampton, NYnot reportednot estimated
June 13, 1940First State Bank of StonewallStonewall, OK$143 thousandnot estimated
June 22, 1940The Lucerne State BankLucerne, IN$195 thousandnot estimated
June 22, 1940First State Bank of Scotch PlainsScotch Plains, NJnot reportednot estimated
June 22, 1940The Westfield Trust CompanyWestfield, NJnot reportednot estimated
June 25, 1940Waushara County BankPlainfield, WInot reportednot estimated
July 2, 1940Kane Trust and Savings BankKane, PA$915 thousandnot estimated
July 13, 1940Chaseburg State BankChaseburg, WInot reportednot estimated
July 20, 1940The Claxton State BankClaxton, GA$223 thousandnot estimated
July 20, 1940Mount Pleasant Bank & Trust Co.Pleasantville, NYnot reportednot estimated
July 27, 1940Bank of WilliamsvilleWilliamsville, NYnot reportednot estimated
August 3, 1940Badger State BankBadger, SD$74 thousandnot estimated
August 24, 1940Mt. Union State BankMt. Union, IAnot reportednot estimated
September 14, 1940First Citizens Bank & Trust Co. of UticaUtica, NYnot reportednot estimated
September 18, 1940The Bank of LeslieLeslie, GA$141 thousandnot estimated
October 4, 1940Savings Bank of NanticokeNanticoke, MD$190 thousandnot estimated
October 25, 1940Bank of EagleEagle, WI$457 thousandnot estimated
November 19, 1940The First National Bank of BurlingameBurlingame, KS$301 thousandnot estimated
November 23, 1940The State Exchange BankHolley, NYnot reportednot estimated
December 4, 1940The American Nat Bk of Santa MonicaSanta Monica, CAnot reportednot estimated