Data / Bank failures / 1951 / The Parnassus National Bank
The Parnassus National Bank, New Kensington, PA: failed August 25, 1951
The Parnassus National Bank in New Kensington, Pennsylvania, failed on August 25, 1951. It held $2.9 million in assets and $3.3 million in deposits at its last report. By assets it was the largest of 2 banks closed or assisted in 1951.
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The FDIC's record
- Closed
- August 25, 1951
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Total assets
- $2,906,000
- Total deposits
- $3,260,000
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- FDIC
Other bank failures in Pennsylvania, 1949 to 1953
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Mayfield State Bank | Mayfield | February 13, 1953 | $1.4 million | $1.3 million | ||
| First National Bank in Cecil | Cecil | October 9, 1950 | $638,000 | $2.2 million |
All bank failures in 1951 · All bank failures in Pennsylvania · 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.