Data / Bank failures / 1938 / Margate Trust Company
Margate Trust Company, Margate City, NJ: failed April 2, 1938
Margate Trust Company in Margate City, New Jersey, failed on April 2, 1938. It held $702,000 in assets and $367,000 in deposits at its last report. By assets it was the 4th largest of 74 banks closed or assisted in 1938.
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The FDIC's record
- Closed
- April 2, 1938
- Type
- Failure
- How it was resolved
- Payout: the FDIC paid insured depositors directly
- Total assets
- $702,000
- Total deposits
- $367,000
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
Other bank failures in New Jersey, 1936 to 1940
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| The Westfield Trust Company | Westfield | June 22, 1940 | $4.7 million | |||
| First State Bank of Scotch Plains | Scotch Plains | June 22, 1940 | $612,000 | |||
| The Swedesboro National Bank | Swedesboro | March 16, 1940 | $680,000 | |||
| Woodcliff Trust Company | North Bergen | February 3, 1940 | $1.5 million | |||
| Bankers Trust Company | Atlantic City | February 1, 1940 | $2.1 million | $986,000 | ||
| The Tuckerton Bank | Tuckerton | December 27, 1939 | $735,000 | $624,000 | ||
| The Egg Harbor Commercial Bank | Egg Harbor City | October 7, 1939 | $865,000 | |||
| Kearny National Bank | Kearny | June 30, 1939 | $3.1 million |
All bank failures in 1938 · All bank failures in New Jersey · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-24. 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.