Bank Failure
Peoples State Bank
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Closed April 26, 1985 · Odebolt, IA · FDIC Cert #12414.
- Closing date
- April 26, 1985
- Headquarters
- Odebolt, IA
- FDIC Certificate
- 12414
- Total assets at closing
- $13.5M
- Total deposits at closing
- $12.7M
- Estimated loss to the insurance fund
- $2.3M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Peoples Savings Bank
Context
On April 26, 1985, regulators closed Peoples State Bank, headquartered in Odebolt, IA. At closing, the institution held approximately $13.5M in assets and $12.7M in deposits. The FDIC record names Peoples Savings Bank as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $2.3M.
By assets at closing this is the 2604th largest of the 3,526 bank failures in the FDIC record, and the 97th of 139 in 1985. 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 Peoples State Bank fail?
Peoples State Bank was closed by regulators on April 26, 1985.
Who acquired Peoples State Bank?
The FDIC record names Peoples Savings Bank as the acquiring institution in the resolution of Peoples State Bank.
How big was Peoples State Bank when it failed?
Peoples State Bank had approximately $13.5M in total assets and $12.7M in deposits at the time of failure.
Other failures in 1985
| Date | Bank | Assets |
|---|---|---|
| Dec 20, 1985 | First City Bank | $35.8M |
| Dec 20, 1985 | State Bank of Frost | $7.7M |
| Dec 19, 1985 | Princeton State Bank | $18.4M |
| Dec 19, 1985 | Farmers State Bank | $12.5M |
| Dec 19, 1985 | Bank of Panama | $4.4M |
| Dec 19, 1985 | Farmers & Merchants Bank | $3.3M |
| Dec 13, 1985 | The First National Bank in Lincoln County | $32.0M |
| Dec 13, 1985 | Lake National Bank | $19.8M |
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