Bank Failure
Lewis and Clark State Bank
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Closed December 11, 1987 · Lake Oswego, OR · FDIC Cert #22326.
- Closing date
- December 11, 1987
- Headquarters
- Lake Oswego, OR
- FDIC Certificate
- 22326
- Total assets at closing
- $20.3M
- Total deposits at closing
- $19.8M
- Estimated loss to the insurance fund
- $2.5M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Key Bank of Oregon
Context
On December 11, 1987, regulators closed Lewis and Clark State Bank, headquartered in Lake Oswego, OR. At closing, the institution held approximately $20.3M in assets and $19.8M in deposits. The FDIC record names Key Bank of Oregon as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $2.5M.
By assets at closing this is the 2335th largest of the 3,526 bank failures in the FDIC record, and the 108th of 217 in 1987. 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 Lewis and Clark State Bank fail?
Lewis and Clark State Bank was closed by regulators on December 11, 1987.
Who acquired Lewis and Clark State Bank?
The FDIC record names Key Bank of Oregon as the acquiring institution in the resolution of Lewis and Clark State Bank.
How big was Lewis and Clark State Bank when it failed?
Lewis and Clark State Bank had approximately $20.3M in total assets and $19.8M in deposits at the time of failure.
Other failures in 1987
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1987 | First State Bank at Shoshoni | $4.6M |
| Dec 17, 1987 | Usbank | $86.0M |
| Dec 17, 1987 | Bank of Mabank | $43.8M |
| Dec 17, 1987 | American Bank of Commerce | $35.5M |
| Dec 11, 1987 | First Interstate Bank of Alaska | $367.7M |
| Dec 10, 1987 | Heritage National Bank | $53.2M |
| Dec 10, 1987 | Bancfirst-Austin, N.A. | $25.3M |
| Dec 10, 1987 | Louisiana Bank & Trust Company | $18.5M |
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