Bank Failure
Golden Spike State Bank
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Closed December 4, 1984 · Tremonton, UT · FDIC Cert #22999.
- Closing date
- December 4, 1984
- Headquarters
- Tremonton, UT
- FDIC Certificate
- 22999
- Total assets at closing
- $7.8M
- Total deposits at closing
- $7.3M
- Estimated loss to the insurance fund
- $3.6M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Golden Spike Bank
Context
On December 4, 1984, regulators closed Golden Spike State Bank, headquartered in Tremonton, UT. At closing, the institution held approximately $7.8M in assets and $7.3M in deposits. The FDIC record names Golden Spike Bank as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $3.6M.
By assets at closing this is the 2872nd largest of the 3,526 bank failures in the FDIC record, and the 69th 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 Golden Spike State Bank fail?
Golden Spike State Bank was closed by regulators on December 4, 1984.
Who acquired Golden Spike State Bank?
The FDIC record names Golden Spike Bank as the acquiring institution in the resolution of Golden Spike State Bank.
How big was Golden Spike State Bank when it failed?
Golden Spike State Bank had approximately $7.8M in total assets and $7.3M 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 |
| Nov 30, 1984 | The Dayton BK & TR Co. | $51.4M |
| Nov 29, 1984 | The Strong City State Bank | $5.0M |
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