Data / Bank failures / 1938 / Merchants' and Mechanics' Savings Bank of Norfolk
Merchants' and Mechanics' Savings Bank of Norfolk, Norfolk, VA: failed March 26, 1938
Merchants' and Mechanics' Savings Bank of Norfolk in Norfolk, Virginia, failed on March 26, 1938. It held $2.9 million in deposits.
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The FDIC's record
- Closed
- March 26, 1938
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Total deposits
- $2,941,000
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
Other bank failures in Virginia, 1936 to 1940
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| The Parksley National Bank | Parksley | May 18, 1939 | $279,000 | $182,000 | ||
| Bank of Northampton, Incorporated | Nassawadox | March 3, 1938 | $300,000 | |||
| Peoples Bank of Bloxom, Inc. | Bloxom | July 19, 1937 | $101,000 | $63,000 | ||
| Farmers & Merchants Trust Bank | Cape Charles | May 22, 1937 | $844,000 |
All bank failures in 1938 · All bank failures in Virginia · 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.