Data / Bank failures / 1939 / First State Bank
First State Bank, Elgin, TX: failed January 9, 1939
First State Bank in Elgin, Texas, failed on January 9, 1939. It held $347,000 in assets and $287,000 in deposits at its last report. By assets it was the 12th largest of 60 banks closed or assisted in 1939.
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The FDIC's record
- Closed
- January 9, 1939
- Type
- Failure
- How it was resolved
- Payout: the FDIC paid insured depositors directly
- Total assets
- $347,000
- Total deposits
- $287,000
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
Other bank failures in Texas, 1937 to 1941
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Guaranty Bond State Bank | North Zulch | January 4, 1940 | $169,000 | $119,000 | ||
| Tatum State Bank | Tatum | May 2, 1939 | $47,000 | $17,000 | ||
| Farmers State Bank in Merkel | Merkel | February 3, 1939 | $183,000 | $131,000 | ||
| First State Bank | Marquez | January 16, 1939 | $87,000 | $46,000 | ||
| The First National Bank of Purdon | Purdon | February 12, 1938 | $63,000 | $36,000 | ||
| The First National Bank of Lovelady | Lovelady | October 1, 1937 | $78,000 | |||
| Ringgold State Bank | Ringgold | October 1, 1937 | $92,000 | $51,000 | ||
| First State Bank of South San Antonio | San Antonio | June 29, 1937 | $514,000 | $490,000 |
All bank failures in 1939 · All bank failures in Texas · 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.