Data / Bank failures / 1938 / First State Bank
First State Bank, Hewitt, MN: failed September 2, 1938
First State Bank in Hewitt, Minnesota, failed on September 2, 1938. It held $135,000 in assets and $112,000 in deposits at its last report. By assets it was the 27th largest of 74 banks closed or assisted in 1938.
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The FDIC's record
- Closed
- September 2, 1938
- Type
- Failure
- How it was resolved
- Payout: the FDIC paid insured depositors directly
- Total assets
- $135,000
- Total deposits
- $112,000
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
Other bank failures in Minnesota, 1936 to 1940
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| The First National Bank of Preston | Preston | January 5, 1939 | $304,000 | $285,000 | ||
| Farmers State Bank of Carlisle | Carlisle | October 7, 1937 | $99,000 | $82,000 |
All bank failures in 1938 · All bank failures in Minnesota · 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.