Bank Failure
Albany State Bank
BankRegReports is independent of Albany State Bank and never asks for online banking logins or passwords.
Closed August 28, 1986 · Albany, MO · FDIC Cert #23248.
- Closing date
- August 28, 1986
- Headquarters
- Albany, MO
- FDIC Certificate
- 23248
- Total assets at closing
- $4.7M
- Total deposits at closing
- $4.9M
- Estimated loss to the insurance fund
- $2.1M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- United Mo Bank of St Jos
Context
On August 28, 1986, regulators closed Albany State Bank, headquartered in Albany, MO. At closing, the institution held approximately $4.7M in assets and $4.9M in deposits. The FDIC record names United Mo Bank of St Jos as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $2.1M.
By assets at closing this is the 3004th largest of the 3,526 bank failures in the FDIC record, and the 160th of 162 in 1986. It falls in the period the record labels S&L / Banking Crisis (1980-1995), a period with 2,367 failures peaking at 530 in 1989.
Deregulation, interest-rate shocks, and commercial real estate blowups produced the worst US banking failure wave since the Depression. Resulted in FIRREA (1989) and the RTC.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Albany State Bank fail?
Albany State Bank was closed by regulators on August 28, 1986.
Who acquired Albany State Bank?
The FDIC record names United Mo Bank of St Jos as the acquiring institution in the resolution of Albany State Bank.
How big was Albany State Bank when it failed?
Albany State Bank had approximately $4.7M in total assets and $4.9M in deposits at the time of failure.
Other failures in 1986
| Date | Bank | Assets |
|---|---|---|
| Dec 19, 1986 | Lakeland State Bank | $49.4M |
| Dec 19, 1986 | Farmers State Bank | $9.7M |
| Dec 18, 1986 | First Bank & Trust Co. | $94.9M |
| Dec 18, 1986 | Landmark National Bank | $12.9M |
| Dec 18, 1986 | Lago Vista National Bank | $11.9M |
| Dec 12, 1986 | Guaranty Federal Bank FSB | $63.8M |
| Dec 12, 1986 | First Savings of America | $47.0M |
| Dec 9, 1986 | The Citizens Bank of Windsor | $24.8M |
Explore: all failures · MO bank events · 1986 events · events hub