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Failures by State

Bank Failures in Iowa

67 FDIC-insured banks headquartered in Iowa have failed since 1936. The most recent was Citizens Bank on November 3, 2023. The worst year was 1986, with 11 failures. Failed banks held $4.87B in assets at closing.

67
Failures
1936 to 2023
$4.87B
Failed assets
At closing
$529.5M
Estimated DIF loss
FDIC estimate
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All Iowa events
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Largest bank failures in Iowa

Date Bank City Assets Acquirer or resolution
Feb 9, 1990 American Federal Savings Assoc. Des Moines $910.7M Branch sale
Mar 22, 1991 United FSA of Iowa Des Moines $895.8M Branch sale
Jul 27, 1990 Statesman Bank for Savings, FSB Des Moines $540.4M Branch sale
Sep 4, 2009 Vantus Bank Sioux City $503.6M Great Southern Bank
Feb 21, 1986 Capitol S&LA Mount Pleasant $192.0M Midwest FS&LA of Minneapoli
Oct 16, 1989 Banc Iowa Federal Savings Bank Cedar Rapids $161.9M Branch sale
Apr 26, 1991 Home FS & La, F.A. Algona $134.3M Branch sale
Jan 4, 1990 First Central Federal Savings Bank Chariton $112.8M Branch sale
Jan 14, 2000 Hartford-Carlisle SB Carlisle $105.0M Citizens Bank
Nov 18, 2011 Polk County Bank Johnston $91.6M Grinnell State Bank

Iowa bank failures by year

Year Failures Failed assets
2023 1 $60.4M
2011 1 $91.6M
2009 1 $503.6M
2000 1 $105.0M
1993 1 $7.0M
1991 5 $1.22B
1990 4 $1.59B
1989 3 $284.2M
1988 6 $101.0M
1987 6 $86.2M
1986 11 $477.2M
1985 11 $168.2M
1984 3 $61.4M
1982 2 $84.8M
1977 1 $5.5M
1974 1 $3.5M
1973 1 $8.1M
1970 1 $4.1M
1961 1 $4.4M
1940 1 —
1938 3 $403K
1937 1 —
1936 1 $150K

Every bank failure in Iowa

Date Bank City Assets Acquirer or resolution
Nov 3, 2023 Citizens Bank Sac City $60.4M Iowa Trust & Savings Bank
Nov 18, 2011 Polk County Bank Johnston $91.6M Grinnell State Bank
Sep 4, 2009 Vantus Bank Sioux City $503.6M Great Southern Bank
Jan 14, 2000 Hartford-Carlisle SB Carlisle $105.0M Citizens Bank
Apr 29, 1993 Valley National Bank of Fremont Hamburg $7.0M Decatur County State Ban
Nov 22, 1991 Peoples FSA Ottumwa $34.3M South Ottumwa SB
Sep 27, 1991 Home FS & La of Harlan Harlan $91.4M Conservative SB FSB
May 10, 1991 First FS & La of Creston Creston $67.3M First FSB of Creston
Apr 26, 1991 Home FS & La, F.A. Algona $134.3M Branch sale
Mar 22, 1991 United FSA of Iowa Des Moines $895.8M Branch sale
Jul 27, 1990 Statesman Bank for Savings, FSB Des Moines $540.4M Branch sale
Mar 16, 1990 Sun Federal Savings Assoc. Fort Dodge $24.3M Ida County State Bank
Feb 9, 1990 American Federal Savings Assoc. Des Moines $910.7M Branch sale
Jan 4, 1990 First Central Federal Savings Bank Chariton $112.8M Branch sale
Oct 16, 1989 Banc Iowa Federal Savings Bank Cedar Rapids $161.9M Branch sale
Apr 6, 1989 Sioux Valley S & La Cherokee $61.8M Deposit payout
Apr 6, 1989 First FS & La of Estherville Estherville $60.6M Branch sale
Sep 1, 1988 Mingo Trust & Savings Bank Mingo $12.1M Exchange State Bank
Sep 1, 1988 Pisgah Savings Bank Pisgah $9.7M Iowa Savings Bank
Jun 2, 1988 Community State Bank Whiting $5.1M Sloan State Bank
May 6, 1988 Forest City Bank & Trust Co. Forest City $26.6M Liberty Bank&trust
Mar 10, 1988 Hayesville Savings Bank Hayesville $38.0M Farmers Savings Bank
Jan 20, 1988 Aredale State Bank Aredale $9.6M First Security Bank&trus
Dec 3, 1987 Climbing Hill Savings Bank Climbing Hill $5.4M First Trust&savings Bank
Jul 30, 1987 Farmers State Bank Kanawha $15.9M First NB of Clarion
Apr 23, 1987 Osceola State Bank & Trust Company Osceola $8.6M American State Bank
Mar 4, 1987 The First State Bank Rockford $15.8M First Security Bank&trus
Feb 5, 1987 State Bank of Allison Allison $17.4M Lincoln Savings Bank
Jan 15, 1987 Latimer Bank & Trust Latimer $23.2M First NB of Clarion
Aug 7, 1986 Graettinger State Bank Graettinger $11.8M Swea City State Bank
Jul 31, 1986 Citizens State Bank Iowa Falls $54.0M Green Belt Bank&trust
Jul 24, 1986 The First National Bank of Prairie City Prairie City $18.9M Security Bank
Jun 27, 1986 Commercial State Bank Pocahontas $47.9M Citizens State Bank
May 29, 1986 The Lone Rock Bank, N.A. Lone Rock $7.5M Swea City State Bank
May 1, 1986 The Bedford National Bank Bedford $19.3M American National Bank
Apr 10, 1986 The National Bank Dyersville $43.0M American Trust&savings B
Mar 20, 1986 Williams Savings Bank Williams $12.8M Iowa Falls State Bank
Feb 21, 1986 Capitol S&LA Mount Pleasant $192.0M Midwest FS&LA of Minneapoli
Feb 14, 1986 First National Bank of Tipton Tipton $17.9M Citizens Savings Bank
Feb 6, 1986 The Peoples National Bank & Trust Albia $52.0M —
Nov 8, 1985 Auburn Savings Bank Auburn $6.8M Carroll County State Ban
Nov 1, 1985 Early Savings Bank Early $12.9M Citizens 1st NB Storm La
Aug 6, 1985 Mineola State Bank Mineola $5.2M Glenwood State Bank
Jun 21, 1985 Urbana Savings Bank Urbana $7.2M Peoples Bank&trust Co
May 9, 1985 Story County State Bank Story City $33.6M Story County Bank&trust
May 3, 1985 Farmers Savings Bank Massena $16.9M Union National Bank
Apr 26, 1985 Peoples State Bank Odebolt $13.5M Peoples Savings Bank
Mar 8, 1985 Commercial State Bank Afton $16.3M Citizens Savings Bank
Feb 19, 1985 Inwood State Bank Inwood $8.1M Security Savings Bank
Feb 7, 1985 First National Bank of Woodbine Woodbine $25.8M Iowa Savings Bank

Source: FDIC failed-bank list. Counts are real closures by headquarters state; FDIC open-bank assistance transactions are not failures and are excluded. Assets and deposits are as reported at closing.

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