Bank Failure
Bear Creek Valley Bank
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Closed March 25, 1983 · Phoenix, OR · FDIC Cert #23043.
- Closing date
- March 25, 1983
- Headquarters
- Phoenix, OR
- FDIC Certificate
- 23043
- Total assets at closing
- $13.6M
- Total deposits at closing
- $11.2M
- Estimated loss to the insurance fund
- $4.8M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Valley of the Rogue Bank
Context
On March 25, 1983, regulators closed Bear Creek Valley Bank, headquartered in Phoenix, OR. At closing, the institution held approximately $13.6M in assets and $11.2M in deposits. The FDIC record names Valley of the Rogue Bank as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $4.8M.
By assets at closing this is the 2603rd largest of the 3,526 bank failures in the FDIC record, and the 40th of 50 in 1983. 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 Bear Creek Valley Bank fail?
Bear Creek Valley Bank was closed by regulators on March 25, 1983.
Who acquired Bear Creek Valley Bank?
The FDIC record names Valley of the Rogue Bank as the acquiring institution in the resolution of Bear Creek Valley Bank.
How big was Bear Creek Valley Bank when it failed?
Bear Creek Valley Bank had approximately $13.6M in total assets and $11.2M in deposits at the time of failure.
Other failures in 1983
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1983 | The Bank of Red Oak | $11.1M |
| Dec 13, 1983 | Bank of Hackleburg | $6.5M |
| Dec 9, 1983 | Union Trust Company | $30.6M |
| Dec 2, 1983 | Metro FS&LA | $27.4M |
| Nov 25, 1983 | Atkinson Trust & Savings Bank | $21.1M |
| Nov 11, 1983 | First Nat BK of Browning | $13.7M |
| Nov 3, 1983 | State of Clovis, Sa | $30.9M |
| Oct 28, 1983 | Cleveland Community Savings Co. | $21.0M |
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