Bank Failure
Farmers State Bank
Closed August 2, 1985 · Rising City, NE · FDIC Cert #11828.
- Closing date
- August 2, 1985
- Headquarters
- Rising City, NE
- FDIC Certificate
- 11828
- Total assets at closing
- $12.8M
- Total deposits at closing
- $11.9M
- Estimated loss to DIF
- $320K
- Resolution
- Failure (closed by regulators)
- Acquirer
- Union Bank&trust Co
Context
On August 2, 1985, regulators closed Farmers State Bank, headquartered in Rising City, NE. At closing, the institution held approximately $12.8M in assets and $11.9M in deposits. The FDIC arranged a resolution under which Union Bank&trust Co acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $320K.
By assets at closing this is the 2642nd largest of the 3,526 bank failures in the FDIC record, and the 99th 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 Farmers State Bank fail?
Farmers State Bank was closed by regulators on August 2, 1985.
Who acquired Farmers State Bank?
Union Bank&trust Co acquired the failed bank's deposits and operations on August 2, 1985 under an FDIC-brokered resolution.
How big was Farmers State Bank when it failed?
Farmers State Bank had approximately $12.8M in total assets and $11.9M 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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