Bank Failure
Bank of Panama
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Closed December 19, 1985 · Panama, NE · FDIC Cert #18726.
- Closing date
- December 19, 1985
- Headquarters
- Panama, NE
- FDIC Certificate
- 18726
- Total assets at closing
- $4.4M
- Total deposits at closing
- $4.3M
- Estimated loss to the insurance fund
- $1.4M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Farmers State Bank
Context
On December 19, 1985, regulators closed Bank of Panama, headquartered in Panama, NE. At closing, the institution held approximately $4.4M in assets and $4.3M in deposits. The FDIC record names Farmers State Bank as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $1.4M.
By assets at closing this is the 3013th largest of the 3,526 bank failures in the FDIC record, and the 129th 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.
Common questions
When did Bank of Panama fail?
Bank of Panama was closed by regulators on December 19, 1985.
Who acquired Bank of Panama?
The FDIC record names Farmers State Bank as the acquiring institution in the resolution of Bank of Panama.
How big was Bank of Panama when it failed?
Bank of Panama had approximately $4.4M in total assets and $4.3M 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 | 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 |
| Dec 13, 1985 | The Farmers State Bank of Barry County, Ex | $4.2M |
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