Bank Failure
Farmers State Bank
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Closed October 24, 1984 · Kilgore, NE · FDIC Cert #8342.
- Closing date
- October 24, 1984
- Headquarters
- Kilgore, NE
- FDIC Certificate
- 8342
- Total assets at closing
- $6.1M
- Total deposits at closing
- $5.5M
- 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
- First NB of Valentine
Context
On October 24, 1984, regulators closed Farmers State Bank, headquartered in Kilgore, NE. At closing, the institution held approximately $6.1M in assets and $5.5M in deposits. The FDIC record names First NB of Valentine as the acquiring institution in the resolution.
By assets at closing this is the 2952nd largest of the 3,526 bank failures in the FDIC record, and the 75th of 83 in 1984. 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 Farmers State Bank fail?
Farmers State Bank was closed by regulators on October 24, 1984.
Who acquired Farmers State Bank?
The FDIC record names First NB of Valentine as the acquiring institution in the resolution of Farmers State Bank.
How big was Farmers State Bank when it failed?
Farmers State Bank had approximately $6.1M in total assets and $5.5M in deposits at the time of failure.
Other failures in 1984
| Date | Bank | Assets |
|---|---|---|
| Dec 22, 1984 | First Security Bank | $13.4M |
| Dec 20, 1984 | The Farmers State Bank | $14.6M |
| Dec 18, 1984 | Uehling State Bank | $4.2M |
| Dec 11, 1984 | University Bank of Wichita | $4.7M |
| Dec 7, 1984 | San Marino S&LA | $856.8M |
| Dec 7, 1984 | Farmers State BK of Holyoke | $3.9M |
| Dec 4, 1984 | Golden Spike State Bank | $7.8M |
| Nov 30, 1984 | The Dayton BK & TR Co. | $51.4M |
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