Data / Bank failures / 1940 / MT. Union State Bank
MT. Union State Bank, MT. Union, IA: failed August 24, 1940
MT. Union State Bank in MT. Union, Iowa, failed on August 24, 1940. It held $179,000 in deposits.
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The FDIC's record
- Closed
- August 24, 1940
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Total deposits
- $179,000
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
Other bank failures in Iowa, 1938 to 1942
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Russell State Bank & Trust Company | Russell | June 17, 1938 | $217,000 | $185,000 | ||
| Farmers Savings Bank | Ankeny | May 19, 1938 | $186,000 | $163,000 | ||
| Home Savings Bank | Des Moines | March 5, 1938 | $1.2 million |
All bank failures in 1940 · All bank failures in Iowa · 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.