Data / Bank failures / 1938
US bank failures in 1938: 74 banks closed
74 banks failed in 1938, holding $13.9 million in assets and $62.1 million in deposits. The FDIC estimates the cost to its insurance fund at $0. The largest: Winooski Savings Bank ($4 million), State Bank of Rice Lake ($946,000), The Harford Bank ($893,000). Most by state: SD 12, WI 7, ND 7, MO 6, KY 5.
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Every failure, newest first
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Farmers State Bank | Canton | WI | December 31, 1938 | $51,000 | $30,000 | ||
| The Harford Bank | Bel Air | MD | December 31, 1938 | $893,000 | $669,000 | ||
| Farmers State Bank of London | London | KY | December 21, 1938 | $355,000 | $287,000 | ||
| Boiling Springs State Bank | Boiling Springs | PA | December 17, 1938 | $147,000 | |||
| Coleman State Bank | Coleman | WI | December 14, 1938 | $234,000 | |||
| The National City Bank of Lynn | Lynn | MA | December 3, 1938 | $2.2 million | |||
| The First National Bank of Roosevelt | Roosevelt | NY | November 26, 1938 | $1 million | |||
| The Bank of Cuba | Cuba | AL | November 26, 1938 | $89,000 | $100,000 | ||
| Farmers State Bank of Anamoose | Anamoose | ND | November 26, 1938 | $62,000 | $39,000 | ||
| Bank of Bellflower | Bellflower | MO | November 5, 1938 | $52,000 | |||
| Fayette Bank | Fayette | MO | November 3, 1938 | $348,000 | $303,000 | ||
| Kermit State Bank | Kermit | WV | November 1, 1938 | $120,000 | $67,000 | ||
| Bank of Eton | Eton | GA | October 12, 1938 | $29,000 | |||
| Bank of Lockport | Lockport | KY | October 11, 1938 | $68,000 | $51,000 | ||
| First State Bank | Wilmot | SD | September 29, 1938 | $165,000 | $112,000 | ||
| The Saranac Lake National Bank | Saranac Lake | NY | September 24, 1938 | $491,000 | |||
| Stockmens State Bank | Medora | ND | September 24, 1938 | $87,000 | $74,000 | ||
| First State Bank | Hewitt | MN | September 2, 1938 | $135,000 | $112,000 | ||
| First Bank of Flaxton | Flaxton | ND | August 31, 1938 | $80,000 | $53,000 | ||
| Jerauld County Bank | Wessington Springs | SD | August 31, 1938 | $260,000 | $211,000 | ||
| Hitchcock State Bank | Hitchcock | SD | August 24, 1938 | $79,000 | $54,000 | ||
| Home Bank & Trust Company | Winchester | TN | August 19, 1938 | $401,000 | $278,000 | ||
| The Farmers & Merchants Bank | Madison | MO | August 18, 1938 | $119,000 | $95,000 | ||
| Bank of Highmore (drew Bros.) | Highmore | SD | August 16, 1938 | $109,000 | $79,000 | ||
| State Bank of Rice Lake | Rice Lake | WI | August 15, 1938 | $946,000 | $841,000 | ||
| Winooski Savings Bank | Winooski | VT | July 28, 1938 | $4 million | $2.5 million | ||
| Hutchinson County Bank | Parkston | SD | July 27, 1938 | $273,000 | $215,000 | ||
| Takoma Park Bank | Takoma Park | MD | July 23, 1938 | $2 million | |||
| Bethel Springs Bank | Bethel Springs | TN | July 22, 1938 | $39,000 | |||
| Hudson State Bank | Hudson | SD | July 12, 1938 | $254,000 | $209,000 | ||
| Bank of Milburn | Milburn | KY | July 11, 1938 | $79,000 | $62,000 | ||
| Commercial Bank of Maryland | Frederick | MD | July 1, 1938 | $1.4 million | |||
| The Bank of Ashe | Jefferson | NC | June 24, 1938 | $312,000 | |||
| Central Savings Bank | Newport | KY | June 22, 1938 | $1.4 million | |||
| Russell State Bank & Trust Company | Russell | IA | June 17, 1938 | $217,000 | $185,000 | ||
| Leopolis State Bank | Leopolis | WI | June 3, 1938 | $205,000 | $143,000 | ||
| German State Bank of Beulah | Beulah | ND | May 31, 1938 | $122,000 | $100,000 | ||
| Farmers Savings Bank | Ankeny | IA | May 19, 1938 | $186,000 | $163,000 | ||
| Citizens State Bank of Andover | Andover | SD | May 17, 1938 | $78,000 | $48,000 | ||
| Sussex State Bank | Sussex | WI | May 14, 1938 | $290,000 | |||
| State Bank of Irene | Irene | SD | April 25, 1938 | $176,000 | $142,000 | ||
| Caroline State Bank | Caroline | WI | April 20, 1938 | $168,000 | $134,000 | ||
| First State Bank | Turtle Lake | ND | April 19, 1938 | $186,000 | $144,000 | ||
| Bank of Humboldt | Humboldt | SD | April 19, 1938 | $194,000 | $131,000 | ||
| First State Bank of Ipswich | Ipswich | SD | April 12, 1938 | $210,000 | $184,000 | ||
| West Jersey Trust Company | Camden | NJ | April 11, 1938 | $9 million | |||
| Camden Safe Deposit & Trust Company | Camden | NJ | April 11, 1938 | $22.6 million | |||
| Bank of Ellenboro | Ellenboro | NC | April 9, 1938 | $54,000 | |||
| The City National Bank of Harrisburg | Harrisburg | IL | April 9, 1938 | $2.8 million | |||
| The First State Bank | Colfax | ND | April 9, 1938 | $117,000 | $83,000 | ||
| Margate Trust Company | Margate City | NJ | April 2, 1938 | $702,000 | $367,000 | ||
| Merchants' and Mechanics' Savings Bank of Norfolk | Norfolk | VA | March 26, 1938 | $2.9 million | |||
| The Borden State Bank | Borden | IN | March 18, 1938 | $165,000 | $135,000 | ||
| First State Bank | Kulm | ND | March 14, 1938 | $212,000 | $142,000 | ||
| Home Savings Bank | Des Moines | IA | March 5, 1938 | $1.2 million | |||
| Bank of Northampton, Incorporated | Nassawadox | VA | March 3, 1938 | $300,000 | |||
| Citizens State Bank | Hartford | AR | March 2, 1938 | $118,000 | $94,000 | ||
| State Bank of Surprise | Surprise | NE | February 28, 1938 | $65,000 | $56,000 | ||
| Farmers Bank of Blackburn | Blackburn | MO | February 17, 1938 | $79,000 | $51,000 | ||
| The First National Bank of Purdon | Purdon | TX | February 12, 1938 | $63,000 | $36,000 | ||
| The Briggsdale State Bank | Briggsdale | CO | February 10, 1938 | $14,000 | $8,000 | ||
| Peoples Bank & Trust Company | Sparta | TN | February 10, 1938 | $123,000 | |||
| Bank of Strafford | Strafford | MO | February 10, 1938 | $136,000 | $122,000 | ||
| Bank of Marion | Marion | AR | February 7, 1938 | $639,000 | $554,000 | ||
| Pollock State Bank | Pollock | SD | February 1, 1938 | $103,000 | $56,000 | ||
| The First State Bank of Lathrop | Lathrop | MO | February 1, 1938 | $163,000 | $125,000 | ||
| Farmers Security Bank | Maywood | NE | February 1, 1938 | $213,000 | $186,000 | ||
| The Bank of Fremont | Fremont | NC | January 29, 1938 | $341,000 | |||
| The Trout Creek State Bank | Trout Creek | MI | January 28, 1938 | $46,000 | $22,000 | ||
| Belleville Bank & Trust Company | Belleville | IL | January 26, 1938 | $2.8 million | |||
| The Woodman State Bank | Woodman | WI | January 22, 1938 | $152,000 | |||
| First State Bank of Wolsey | Wolsey | SD | January 21, 1938 | $123,000 | $90,000 | ||
| Bank of Decatur | Decatur | AR | January 19, 1938 | $97,000 | $84,000 | ||
| Worthville Deposit Bank | Worthville | KY | January 11, 1938 | $141,000 | $116,000 |
Other years
- 2026 4
- 2025 2
- 2024 2
- 2023 5
- 2020 4
- 2019 4
- 2017 8
- 2016 5
- 2015 8
- 2014 18
- 2013 24
- 2012 51
- 2011 92
- 2010 157
- 2009 148
- 2008 30
- 2007 3
- 2004 4
- 2003 3
- 2002 11
- 2001 4
- 2000 7
- 1999 8
- 1998 3
- 1997 1
- 1996 6
- 1995 8
- 1994 15
- 1993 50
- 1992 181
- 1991 271
- 1990 382
- 1989 534
- 1988 470
- 1987 262
- 1986 204
- 1985 180
- 1984 106
- 1983 99
- 1982 119
- 1981 40
- 1980 22
- 1979 10
- 1978 7
- 1977 6
- 1976 17
- 1975 13
- 1974 4
- 1973 6
- 1972 2
- 1971 7
- 1970 7
- 1969 9
- 1968 3
- 1967 4
- 1966 7
- 1965 5
- 1964 7
- 1963 2
- 1962 1
- 1961 5
- 1960 1
- 1959 3
- 1958 4
- 1957 1
- 1956 2
- 1955 5
- 1954 2
- 1953 2
- 1952 3
- 1951 2
- 1950 4
- 1949 4
- 1948 3
- 1947 5
- 1946 1
- 1945 1
- 1944 2
- 1943 5
- 1942 20
- 1941 15
- 1940 43
- 1939 60
- 1937 75
- 1936 69
- 1935 25
- 1934 9
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.