Bank Failure
Prairie County Bank
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Closed March 24, 1983 · Hazen, AR · FDIC Cert #16290.
- Closing date
- March 24, 1983
- Headquarters
- Hazen, AR
- FDIC Certificate
- 16290
- Total assets at closing
- $13.3M
- Total deposits at closing
- $12.1M
- Estimated loss to the insurance fund
- Not published (the FDIC feed carries no estimate for this failure)
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
Context
On March 24, 1983, regulators closed Prairie County Bank, headquartered in Hazen, AR. At closing, the institution held approximately $13.3M in assets and $12.1M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 2623rd largest of the 3,526 bank failures in the FDIC record, and the 41st of 50 in 1983. 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 Prairie County Bank fail?
Prairie County Bank was closed by regulators on March 24, 1983.
How big was Prairie County Bank when it failed?
Prairie County Bank had approximately $13.3M in total assets and $12.1M in deposits at the time of failure.
Other failures in 1983
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1983 | The Bank of Red Oak | $11.1M |
| Dec 13, 1983 | Bank of Hackleburg | $6.5M |
| Dec 9, 1983 | Union Trust Company | $30.6M |
| Dec 2, 1983 | Metro FS&LA | $27.4M |
| Nov 25, 1983 | Atkinson Trust & Savings Bank | $21.1M |
| Nov 11, 1983 | First Nat BK of Browning | $13.7M |
| Nov 3, 1983 | State of Clovis, Sa | $30.9M |
| Oct 28, 1983 | Cleveland Community Savings Co. | $21.0M |
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