Data / Bank failures / 1938 / First Bank of Flaxton
First Bank of Flaxton, Flaxton, ND: failed August 31, 1938
First Bank of Flaxton in Flaxton, North Dakota, failed on August 31, 1938. It held $80,000 in assets and $53,000 in deposits at its last report. By assets it was the 39th largest of 74 banks closed or assisted in 1938.
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The FDIC's record
- Closed
- August 31, 1938
- Type
- Failure
- How it was resolved
- Payout: the FDIC paid insured depositors directly
- Total assets
- $80,000
- Total deposits
- $53,000
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
Other bank failures in North Dakota, 1936 to 1940
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| First State Bank | Wishek | April 18, 1940 | $136,000 | $113,000 | ||
| Ashley State Bank | Ashley | April 18, 1940 | $247,000 | $172,000 | ||
| Bank of Reeder | Reeder | April 17, 1940 | $125,000 | |||
| State Bank of Bremen | Bremen | March 18, 1939 | $61,000 | $28,000 | ||
| Bank of Scranton | Scranton | January 16, 1939 | $153,000 | $94,000 | ||
| Farmers State Bank of Anamoose | Anamoose | November 26, 1938 | $62,000 | $39,000 | ||
| Stockmens State Bank | Medora | September 24, 1938 | $87,000 | $74,000 | ||
| German State Bank of Beulah | Beulah | May 31, 1938 | $122,000 | $100,000 |
All bank failures in 1938 · All bank failures in North Dakota · 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.