Data / Bank failures / 1938 / Russell State Bank & Trust Company
Russell State Bank & Trust Company, Russell, IA: failed June 17, 1938
Russell State Bank & Trust Company in Russell, Iowa, failed on June 17, 1938. It held $217,000 in assets and $185,000 in deposits at its last report. By assets it was the 12th largest of 74 banks closed or assisted in 1938.
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The FDIC's record
- Closed
- June 17, 1938
- Type
- Failure
- How it was resolved
- Payout: the FDIC paid insured depositors directly
- Total assets
- $217,000
- Total deposits
- $185,000
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
Other bank failures in Iowa, 1936 to 1940
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| MT. Union State Bank | MT. Union | August 24, 1940 | $179,000 | |||
| Farmers Savings Bank | Ankeny | May 19, 1938 | $186,000 | $163,000 | ||
| Home Savings Bank | Des Moines | March 5, 1938 | $1.2 million | |||
| The First National Bank in Burlington | Burlington | October 20, 1937 | $3.6 million | |||
| Leland Cooperative Bank | Leland | March 31, 1936 | $150,000 | $155,000 |
All bank failures in 1938 · 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.