Bank Failure
State Bank of Frost
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Closed December 20, 1985 · Frost, MN · FDIC Cert #1917.
- Closing date
- December 20, 1985
- Headquarters
- Frost, MN
- FDIC Certificate
- 1917
- Total assets at closing
- $7.7M
- Total deposits at closing
- $6.6M
- Estimated loss to the insurance fund
- $2.0M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Frost State Bank
Context
On December 20, 1985, regulators closed State Bank of Frost, headquartered in Frost, MN. At closing, the institution held approximately $7.7M in assets and $6.6M in deposits. The FDIC record names Frost State Bank as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $2.0M.
By assets at closing this is the 2875th largest of the 3,526 bank failures in the FDIC record, and the 115th 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 State Bank of Frost fail?
State Bank of Frost was closed by regulators on December 20, 1985.
Who acquired State Bank of Frost?
The FDIC record names Frost State Bank as the acquiring institution in the resolution of State Bank of Frost.
How big was State Bank of Frost when it failed?
State Bank of Frost had approximately $7.7M in total assets and $6.6M in deposits at the time of failure.
Other failures in 1985
| Date | Bank | Assets |
|---|---|---|
| Dec 20, 1985 | First City Bank | $35.8M |
| 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 |
| Dec 13, 1985 | The Farmers State Bank of Barry County, Ex | $4.2M |
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