Data / Bank failures / 1948 / Columbus Trust Company
Columbus Trust Company, Newark, NJ: failed July 24, 1948
Columbus Trust Company in Newark, New Jersey, failed on July 24, 1948. It held $7.9 million in assets and $7.9 million in deposits at its last report. By assets it was the largest of 3 banks closed or assisted in 1948.
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The FDIC's record
- Closed
- July 24, 1948
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Total assets
- $7,892,000
- Total deposits
- $7,921,000
- Charter
- State member bank (Federal Reserve)
- Insurance fund
- FDIC
All bank failures in 1948 · All bank failures in New Jersey · 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.