Bank Failure
Q Bank
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Closed August 7, 1998 · Fort Benton, MT · FDIC Cert #2174.
- Closing date
- August 7, 1998
- Headquarters
- Fort Benton, MT
- FDIC Certificate
- 2174
- Total assets at closing
- $15.0M
- Total deposits at closing
- $13.9M
- Estimated loss to the insurance fund
- $1.6M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Heritage State Bank
Context
On August 7, 1998, regulators closed Q Bank, headquartered in Fort Benton, MT. At closing, the institution held approximately $15.0M in assets and $13.9M in deposits. The FDIC record names Heritage State Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $1.6M.
By assets at closing this is the 2542nd largest of the 3,526 bank failures in the FDIC record, and the 3rd of 3 in 1998. It falls in the period the record labels Consolidation Calm (1996-2007), a period with 50 failures peaking at 11 in 2002.
Riegle-Neal interstate-banking era. Industry consolidated rapidly via merger; failure counts dropped to single digits per year.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Q Bank fail?
Q Bank was closed by regulators on August 7, 1998.
Who acquired Q Bank?
The FDIC record names Heritage State Bank as the acquiring institution in the resolution of Q Bank.
How big was Q Bank when it failed?
Q Bank had approximately $15.0M in total assets and $13.9M in deposits at the time of failure.
Other failures in 1998
Explore: all failures · MT bank events · 1998 events · events hub