Bank Failure
Hereford State Bank
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Closed August 24, 1984 · Hereford, CO · FDIC Cert #9219.
- Closing date
- August 24, 1984
- Headquarters
- Hereford, CO
- FDIC Certificate
- 9219
- Total assets at closing
- $2.7M
- Total deposits at closing
- $2.5M
- Estimated loss to the insurance fund
- $765K
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
Context
On August 24, 1984, regulators closed Hereford State Bank, headquartered in Hereford, CO. At closing, the institution held approximately $2.7M in assets and $2.5M in deposits. The FDIC record does not name an acquiring institution. The estimated cost to the FDIC insurance fund was approximately $765K.
By assets at closing this is the 3070th largest of the 3,526 bank failures in the FDIC record, and the 83rd 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 Hereford State Bank fail?
Hereford State Bank was closed by regulators on August 24, 1984.
How big was Hereford State Bank when it failed?
Hereford State Bank had approximately $2.7M in total assets and $2.5M 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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