Data / Bank failures / 1975 / Algoma Bank
Algoma Bank, Algoma, WI: failed May 30, 1975
Algoma Bank in Algoma, Wisconsin, failed on May 30, 1975. It held $5.2 million in assets and $4.8 million in deposits at its last report. By assets it was the 11th largest of 13 banks closed or assisted in 1975.
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The FDIC's record
- Closed
- May 30, 1975
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Total assets
- $5,176,000
- Total deposits
- $4,772,000
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 15154
Other bank failures in Wisconsin, 1973 to 1977
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| American City Bank & Trust Company, N.A. | Milwaukee | October 21, 1975 | $147.6 million | $98.3 million |
All bank failures in 1975 · All bank failures in Wisconsin · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.