Data / Bank failures / 1940 / The State Exchange Bank
The State Exchange Bank, Holley, NY: failed November 23, 1940
The State Exchange Bank in Holley, New York, failed on November 23, 1940. It held $986,000 in deposits.
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The FDIC's record
- Closed
- November 23, 1940
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Total deposits
- $986,000
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
Other bank failures in New York, 1938 to 1942
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Floral Park Bank and Trust Company | Floral Park | March 28, 1942 | $2 million | |||
| The Citizens National Bank of Freeport | Freeport | March 7, 1942 | $1.3 million | |||
| Banco Di Napoli Trust Co. of New York | New York | December 11, 1941 | $13.8 million | $11 million | ||
| The First National Bank of Forestville | Forestville | November 1, 1941 | $328,000 | $303,000 | ||
| Bank of Au Sable Forks, N.Y. | Au Sable Forks | September 29, 1941 | $800,000 | |||
| Mutual Trust Co. of Westchester County | Port Chester | April 26, 1941 | $2.5 million | |||
| The First Nat BK & TR Co. of Port Chester | Port Chester | April 26, 1941 | $5.2 million | |||
| First Citizens Bank & Trust Co. of Utica | Utica | September 14, 1940 | $34.3 million |
All bank failures in 1940 · All bank failures in New York · 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.