Bank Failure
Continental National Bank of Kentucky
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Closed June 26, 1986 · Louisville, KY · FDIC Cert #22275.
- Closing date
- June 26, 1986
- Headquarters
- Louisville, KY
- FDIC Certificate
- 22275
- Total assets (last filing before closing)
- $10.1M
- Total deposits (last filing before closing)
- $10.2M
- Estimated loss to the insurance fund
- $405K
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- River City Bank Inc
Context
On June 26, 1986, regulators closed Continental National Bank of Kentucky, headquartered in Louisville, KY. At closing, the institution held approximately $10.1M in assets and $10.2M in deposits. The FDIC record names River City Bank Inc as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $405K.
By total assets in its last filing before closing, this is the 2765th largest of the 3,526 bank failures in the FDIC record, and the 136th 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, in nominal dollars, and can differ from the balance on the closing day.
Common questions
When did Continental National Bank of Kentucky fail?
Continental National Bank of Kentucky was closed by regulators on June 26, 1986.
Who acquired Continental National Bank of Kentucky?
The FDIC record names River City Bank Inc as the acquiring institution in the resolution of Continental National Bank of Kentucky.
How big was Continental National Bank of Kentucky when it failed?
Continental National Bank of Kentucky had approximately $10.1M in total assets and $10.2M 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 |
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