Bank Failure
Allen County Bank and Trust Company
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Closed November 22, 1985 · Leo, IN · FDIC Cert #20533.
- Closing date
- November 22, 1985
- Headquarters
- Leo, IN
- FDIC Certificate
- 20533
- Total assets (last filing before closing)
- $10.9M
- Total deposits (last filing before closing)
- $10.5M
- Estimated loss to the insurance fund
- Not published (the FDIC feed carries no estimate for this failure)
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Indiana National Bank
Context
On November 22, 1985, regulators closed Allen County Bank and Trust Company, headquartered in Leo, IN. At closing, the institution held approximately $10.9M in assets and $10.5M in deposits. The FDIC record names Indiana National Bank as the acquiring institution in the resolution.
By total assets in its last filing before closing, this is the 2732nd largest of the 3,526 bank failures in the FDIC record, and the 104th of 139 in 1985. 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, in nominal dollars, and can differ from the balance on the closing day.
Common questions
When did Allen County Bank and Trust Company fail?
Allen County Bank and Trust Company was closed by regulators on November 22, 1985.
Who acquired Allen County Bank and Trust Company?
The FDIC record names Indiana National Bank as the acquiring institution in the resolution of Allen County Bank and Trust Company.
How big was Allen County Bank and Trust Company when it failed?
Allen County Bank and Trust Company had approximately $10.9M in total assets and $10.5M in deposits at the time of failure.
Other failures in 1985
| Date | Bank | Assets |
|---|---|---|
| Dec 20, 1985 | First City Bank | $35.8M |
| Dec 20, 1985 | State Bank of Frost | $7.7M |
| Dec 19, 1985 | Princeton State Bank | $18.4M |
| Dec 19, 1985 | Farmers State Bank | $12.5M |
| Dec 19, 1985 | Bank of Panama | $4.4M |
| Dec 19, 1985 | Farmers & Merchants Bank | $3.3M |
| Dec 13, 1985 | The First National Bank in Lincoln County | $32.0M |
| Dec 13, 1985 | Lake National Bank | $19.8M |
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