Bank Failure
Lakeland State Bank
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Closed September 1, 1988 · Camden County, MO · FDIC Cert #20087.
- Closing date
- September 1, 1988
- Headquarters
- Camden County, MO
- FDIC Certificate
- 20087
- Total assets at closing
- $9.3M
- Total deposits at closing
- $9.2M
- Estimated loss to the insurance fund
- $546K
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Community Bank of the Oz
Context
On September 1, 1988, regulators closed Lakeland State Bank, headquartered in Camden County, MO. At closing, the institution held approximately $9.3M in assets and $9.2M in deposits. The FDIC record names Community Bank of the Oz as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $546K.
By assets at closing this is the 2807th largest of the 3,526 bank failures in the FDIC record, and the 211th of 232 in 1988. 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 Lakeland State Bank fail?
Lakeland State Bank was closed by regulators on September 1, 1988.
Who acquired Lakeland State Bank?
The FDIC record names Community Bank of the Oz as the acquiring institution in the resolution of Lakeland State Bank.
How big was Lakeland State Bank when it failed?
Lakeland State Bank had approximately $9.3M in total assets and $9.2M in deposits at the time of failure.
Other failures in 1988
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1988 | First Industrial Bank of Rocky Ford | $12.5M |
| Dec 16, 1988 | First Southwest Bank | $9.8M |
| Dec 15, 1988 | Texas National Bank | $37.7M |
| Dec 15, 1988 | First National Bank in Center | $26.1M |
| Dec 15, 1988 | Crescent City Bank & Trust Company | $24.0M |
| Dec 15, 1988 | Texas Bank of Plano | $15.1M |
| Dec 15, 1988 | First National Bank in Bogata | $13.2M |
| Dec 9, 1988 | Silverado S&LA | $2.32B |
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