Bank Failure
Middle Park Bank
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Closed November 10, 1987 · Granby, CO · FDIC Cert #16966.
- Closing date
- November 10, 1987
- Headquarters
- Granby, CO
- FDIC Certificate
- 16966
- Total assets at closing
- $34.9M
- Total deposits at closing
- $33.0M
- Estimated loss to the insurance fund
- $14.9M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Bank of Kremmling
Context
On November 10, 1987, regulators closed Middle Park Bank, headquartered in Granby, CO. At closing, the institution held approximately $34.9M in assets and $33.0M in deposits. The FDIC record names Bank of Kremmling as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $14.9M.
By assets at closing this is the 1916th largest of the 3,526 bank failures in the FDIC record, and the 76th 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 Middle Park Bank fail?
Middle Park Bank was closed by regulators on November 10, 1987.
Who acquired Middle Park Bank?
The FDIC record names Bank of Kremmling as the acquiring institution in the resolution of Middle Park Bank.
How big was Middle Park Bank when it failed?
Middle Park Bank had approximately $34.9M in total assets and $33.0M 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 11, 1987 | Lewis and Clark State Bank | $20.3M |
| Dec 10, 1987 | Heritage National Bank | $53.2M |
| Dec 10, 1987 | Bancfirst-Austin, N.A. | $25.3M |
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