Bank Failure
First National BK of Carrington
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Closed February 12, 1980 · Carrington, ND · FDIC Cert #19177.
- Closing date
- February 12, 1980
- Headquarters
- Carrington, ND
- FDIC Certificate
- 19177
- Total assets at closing
- $12.4M
- Total deposits at closing
- $11.2M
- Estimated loss to the insurance fund
- $221K
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
Context
On February 12, 1980, regulators closed First National BK of Carrington, headquartered in Carrington, ND. At closing, the institution held approximately $12.4M in assets and $11.2M in deposits. The FDIC record does not name an acquiring institution. The estimated cost to the FDIC insurance fund was approximately $221K.
By assets at closing this is the 2658th largest of the 3,526 bank failures in the FDIC record, and the 5th of 10 in 1980. 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 First National BK of Carrington fail?
First National BK of Carrington was closed by regulators on February 12, 1980.
How big was First National BK of Carrington when it failed?
First National BK of Carrington had approximately $12.4M in total assets and $11.2M in deposits at the time of failure.
Other failures in 1980
| Date | Bank | Assets |
|---|---|---|
| Dec 31, 1980 | East Gadsden Bank | $44.0M |
| Nov 21, 1980 | Citizens State BK of Galena | $10.3M |
| Oct 11, 1980 | The Rochelle BK & TR Co. | $8.4M |
| Sep 12, 1980 | The Metro BK of Huntington, Inc. | $27.0M |
| Aug 8, 1980 | The Mission State BK & TR Co. | $86.4M |
| Jun 28, 1980 | City & County BK of Campbell CTY | $39.8M |
| Jun 4, 1980 | The Citizens State Bank | $2.0M |
| Feb 16, 1980 | Mohawk BK & TR Co. | $5.9M |
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