Bank Failure
Metro North State Bank
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Closed November 13, 1992 · Kansas City, MO · FDIC Cert #21199.
- Closing date
- November 13, 1992
- Headquarters
- Kansas City, MO
- FDIC Certificate
- 21199
- Total assets at closing
- $472.5M
- Total deposits at closing
- $493.8M
- Estimated loss to the insurance fund
- $159.5M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Boatmen's First NB of KC
Context
On November 13, 1992, regulators closed Metro North State Bank, headquartered in Kansas City, MO. At closing, the institution held approximately $472.5M in assets and $493.8M in deposits. The FDIC record names Boatmen's First NB of KC as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $159.5M.
By assets at closing this is the 392nd largest of the 3,526 bank failures in the FDIC record, and the 34th of 179 in 1992. 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 Metro North State Bank fail?
Metro North State Bank was closed by regulators on November 13, 1992.
Who acquired Metro North State Bank?
The FDIC record names Boatmen's First NB of KC as the acquiring institution in the resolution of Metro North State Bank.
How big was Metro North State Bank when it failed?
Metro North State Bank had approximately $472.5M in total assets and $493.8M in deposits at the time of failure.
Other failures in 1992
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1992 | The Rushville National Bank | $41.6M |
| Dec 18, 1992 | The Bremen State Bank | $2.7M |
| Dec 11, 1992 | Meritor Savings Bank | $4.13B |
| Dec 11, 1992 | Eastland Savings Bank | $515.3M |
| Dec 11, 1992 | Eastland Bank | $85.4M |
| Dec 11, 1992 | Sailors & Merchants B&T Co. | $34.8M |
| Dec 8, 1992 | Palm Beach FSA | $59.4M |
| Dec 4, 1992 | Carteret FSB | $4.83B |
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