Bank Failure
High Lakes Community Bank
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Closed October 23, 1981 · La Pine, OR · FDIC Cert #22975.
- Closing date
- October 23, 1981
- Headquarters
- La Pine, OR
- FDIC Certificate
- 22975
- Total assets at closing
- $3.7M
- Total deposits at closing
- $3.0M
- Estimated loss to the insurance fund
- $1.2M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Prineville Bank
Context
On October 23, 1981, regulators closed High Lakes Community Bank, headquartered in La Pine, OR. At closing, the institution held approximately $3.7M in assets and $3.0M in deposits. The FDIC record names Prineville Bank as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $1.2M.
By assets at closing this is the 3044th largest of the 3,526 bank failures in the FDIC record, and the 9th of 9 in 1981. 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 High Lakes Community Bank fail?
High Lakes Community Bank was closed by regulators on October 23, 1981.
Who acquired High Lakes Community Bank?
The FDIC record names Prineville Bank as the acquiring institution in the resolution of High Lakes Community Bank.
How big was High Lakes Community Bank when it failed?
High Lakes Community Bank had approximately $3.7M in total assets and $3.0M in deposits at the time of failure.
Other failures in 1981
| Date | Bank | Assets |
|---|---|---|
| Oct 30, 1981 | Midtown National Bank | $10.6M |
| Sep 25, 1981 | Southwestern Bank | $5.3M |
| Sep 8, 1981 | First FS&LA of Rochester | $1.20B |
| Jun 19, 1981 | Northwest Commerce Bank | $6.7M |
| May 18, 1981 | Economy S&LA | $73.9M |
| Mar 17, 1981 | Peoples Banking Company | $8.4M |
| Mar 14, 1981 | The Des Plaines Bank | $46.5M |
| Mar 14, 1981 | South Side Bank | $27.5M |
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