Failures by State
Bank Failures in Minnesota
70 FDIC-insured banks headquartered in Minnesota have failed since 1934. The most recent was Northern Star Bank on December 19, 2014. The worst year was 1987, with 10 failures. Failed banks held $7.36B in assets at closing.
70
Failures
1934 to 2014
$7.36B
Failed assets
At closing
$1.57B
Estimated DIF loss
FDIC estimate
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All Minnesota events
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Largest bank failures in Minnesota
| Date | Bank | Assets |
|---|---|---|
| Feb 13, 1989 | Midwest Federal Savings | $3.26B |
| Apr 27, 2012 | Inter Savings Bank, FSB D/b/a/ Interbank, FSB | $463.8M |
| Aug 28, 2009 | MainStreet Bank | $458.5M |
| Feb 24, 2012 | Home Savings of America | $434.1M |
| Oct 7, 2011 | The Riverbank | $419.7M |
| Sep 7, 2012 | First Commercial Bank | $215.9M |
| Nov 6, 2009 | Prosperan Bank | $197.4M |
| May 11, 1990 | United Savings Bank, FSB | $161.5M |
| Jan 27, 2012 | Patriot Bank Minnesota | $105.0M |
| Jul 23, 2010 | Community Security Bank | $100.6M |
Minnesota bank failures by year
| Year | Failures | Failed assets |
|---|---|---|
| 2014 | 1 | $18.8M |
| 2013 | 1 | $49.6M |
| 2012 | 4 | $1.22B |
| 2011 | 2 | $441.2M |
| 2010 | 8 | $353.2M |
| 2009 | 6 | $964.7M |
| 2008 | 1 | $52.9M |
| 2000 | 1 | $25.9M |
| 1992 | 1 | $30.3M |
| 1991 | 1 | $54.6M |
| 1990 | 4 | $300.5M |
| 1989 | 2 | $3.27B |
| 1988 | 7 | $103.4M |
| 1987 | 10 | $140.8M |
| 1986 | 5 | $114.9M |
| 1985 | 6 | $140.1M |
| 1984 | 4 | $70.0M |
| 1983 | 1 | $13.9M |
| 1942 | 1 | $91K |
| 1939 | 1 | $304K |
| 1938 | 1 | $135K |
| 1937 | 1 | $99K |
| 1934 | 1 | $91K |
Every bank failure in Minnesota
| Date | Bank | Assets |
|---|---|---|
| Dec 4, 1986 | First National Bank of Stewartville | $18.5M |
| Nov 7, 1986 | Chokio State Bank | $11.9M |
| Jul 11, 1986 | Farmers State Bank of Clarissa | $17.9M |
| Mar 14, 1986 | Farmers & Merchants St BK of Lamberton | $17.1M |
| Dec 20, 1985 | State Bank of Frost | $7.7M |
| Oct 18, 1985 | Farmers State Bank of Kanaranzi | $3.9M |
| Aug 2, 1985 | Farmers State Bank of Round Lake | $23.2M |
| Jun 14, 1985 | Swift County Bank | $41.6M |
| May 31, 1985 | First Trust Bank of Lakefield | $24.3M |
| Feb 15, 1985 | Citizens State Bank of Fulda | $39.4M |
| Oct 24, 1984 | State Bank of Boyd | $7.1M |
| Jul 19, 1984 | The Guaranty BK of Saint Paul | $28.6M |
| May 24, 1984 | First Nat BK of Prior Lake | $12.2M |
| May 4, 1984 | The First Nat BK of Rushford | $22.0M |
| Feb 9, 1983 | State Bank of Barnum | $13.9M |
| Jan 21, 1942 | Palisade State Bank | $91K |
| Jan 5, 1939 | The First National Bank of Preston | $304K |
| Sep 2, 1938 | First State Bank | $135K |
| Oct 7, 1937 | Farmers State Bank of Carlisle | $99K |
| Sep 13, 1934 | Farmers State Bank of Bongards | $91K |
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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