Bank Failure
Mount Pleasant BK & TR Company
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Closed August 6, 1982 · Mount Pleasant, IA · FDIC Cert #16558.
- Closing date
- August 6, 1982
- Headquarters
- Mount Pleasant, IA
- FDIC Certificate
- 16558
- Total assets at closing
- $29.4M
- Total deposits at closing
- $26.2M
- Estimated loss to the insurance fund
- Not available (the FDIC feed's figure of $32 is not consistent with a failure of this size)
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Hawkeye Bank&trust
Context
On August 6, 1982, regulators closed Mount Pleasant BK & TR Company, headquartered in Mount Pleasant, IA. At closing, the institution held approximately $29.4M in assets and $26.2M in deposits. The FDIC record names Hawkeye Bank&trust as the acquiring institution in the resolution.
By assets at closing this is the 2067th largest of the 3,526 bank failures in the FDIC record, and the 7th of 34 in 1982. 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 Mount Pleasant BK & TR Company fail?
Mount Pleasant BK & TR Company was closed by regulators on August 6, 1982.
Who acquired Mount Pleasant BK & TR Company?
The FDIC record names Hawkeye Bank&trust as the acquiring institution in the resolution of Mount Pleasant BK & TR Company.
How big was Mount Pleasant BK & TR Company when it failed?
Mount Pleasant BK & TR Company had approximately $29.4M in total assets and $26.2M in deposits at the time of failure.
Other failures in 1982
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1982 | The Security State Bank | $11.6M |
| Dec 10, 1982 | Bollinger County Bank | $15.9M |
| Nov 19, 1982 | North Kansas Sa | $36.5M |
| Nov 19, 1982 | Ranchlander National Bank | $4.3M |
| Nov 12, 1982 | Bank of Quitman | $17.4M |
| Nov 5, 1982 | The First National Bank of South Charlesto | $28.6M |
| Nov 5, 1982 | Texas BK of Amarillo | $13.1M |
| Nov 2, 1982 | Cedar Bluff Bank | $13.7M |
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