Bank Failure
McCune State Bank
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Closed July 24, 1986 · McCune, KS · FDIC Cert #14111.
- Closing date
- July 24, 1986
- Headquarters
- McCune, KS
- FDIC Certificate
- 14111
- Total assets (last filing before closing)
- $9.1M
- Total deposits (last filing before closing)
- $8.7M
- Estimated loss to the insurance fund
- $1.7M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- City NB of Pittsburg
Context
On July 24, 1986, regulators closed McCune State Bank, headquartered in McCune, KS. At closing, the institution held approximately $9.1M in assets and $8.7M in deposits. The FDIC record names City NB of Pittsburg as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $1.7M.
By total assets in its last filing before closing, this is the 2819th largest of the 3,526 bank failures in the FDIC record, and the 143rd of 162 in 1986. 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, in nominal dollars, and can differ from the balance on the closing day.
Common questions
When did McCune State Bank fail?
McCune State Bank was closed by regulators on July 24, 1986.
Who acquired McCune State Bank?
The FDIC record names City NB of Pittsburg as the acquiring institution in the resolution of McCune State Bank.
How big was McCune State Bank when it failed?
McCune State Bank had approximately $9.1M in total assets and $8.7M in deposits at the time of failure.
Other failures in 1986
| Date | Bank | Assets |
|---|---|---|
| Dec 19, 1986 | Lakeland State Bank | $49.4M |
| Dec 19, 1986 | Farmers State Bank | $9.7M |
| Dec 18, 1986 | First Bank & Trust Co. | $94.9M |
| Dec 18, 1986 | Landmark National Bank | $12.9M |
| Dec 18, 1986 | Lago Vista National Bank | $11.9M |
| Dec 12, 1986 | Guaranty Federal Bank FSB | $63.8M |
| Dec 12, 1986 | First Savings of America | $47.0M |
| Dec 9, 1986 | The Citizens Bank of Windsor | $24.8M |
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