Data / Bank failures / 1939 / The First National Bank of Preston
The First National Bank of Preston, Preston, MN: failed January 5, 1939
The First National Bank of Preston in Preston, Minnesota, failed on January 5, 1939. It held $304,000 in assets and $285,000 in deposits at its last report. By assets it was the 15th largest of 60 banks closed or assisted in 1939.
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The FDIC's record
- Closed
- January 5, 1939
- Type
- Failure
- How it was resolved
- Payout: the FDIC paid insured depositors directly
- Total assets
- $304,000
- Total deposits
- $285,000
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- FDIC
Other bank failures in Minnesota, 1937 to 1941
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| First State Bank | Hewitt | September 2, 1938 | $135,000 | $112,000 | ||
| Farmers State Bank of Carlisle | Carlisle | October 7, 1937 | $99,000 | $82,000 |
All bank failures in 1939 · 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.