Bank Failure
Stockmen's Bank & Trust Company
BankRegReports is independent of Stockmen's Bank & Trust Company and never asks for online banking logins or passwords.
Closed September 18, 1987 · Gillette, WY · FDIC Cert #8720.
- Closing date
- September 18, 1987
- Headquarters
- Gillette, WY
- FDIC Certificate
- 8720
- Total assets at closing
- $117.4M
- Total deposits at closing
- $111.9M
- Estimated loss to the insurance fund
- $41.1M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- First Interstate BK Gill
Context
On September 18, 1987, regulators closed Stockmen's Bank & Trust Company, headquartered in Gillette, WY. At closing, the institution held approximately $117.4M in assets and $111.9M in deposits. The FDIC record names First Interstate BK Gill as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $41.1M.
By assets at closing this is the 1101st largest of the 3,526 bank failures in the FDIC record, and the 28th of 217 in 1987. 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 Stockmen's Bank & Trust Company fail?
Stockmen's Bank & Trust Company was closed by regulators on September 18, 1987.
Who acquired Stockmen's Bank & Trust Company?
The FDIC record names First Interstate BK Gill as the acquiring institution in the resolution of Stockmen's Bank & Trust Company.
How big was Stockmen's Bank & Trust Company when it failed?
Stockmen's Bank & Trust Company had approximately $117.4M in total assets and $111.9M in deposits at the time of failure.
Other failures in 1987
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1987 | First State Bank at Shoshoni | $4.6M |
| Dec 17, 1987 | Usbank | $86.0M |
| Dec 17, 1987 | Bank of Mabank | $43.8M |
| Dec 17, 1987 | American Bank of Commerce | $35.5M |
| Dec 11, 1987 | First Interstate Bank of Alaska | $367.7M |
| Dec 11, 1987 | Lewis and Clark State Bank | $20.3M |
| Dec 10, 1987 | Heritage National Bank | $53.2M |
| Dec 10, 1987 | Bancfirst-Austin, N.A. | $25.3M |
Explore: all failures · WY bank events · 1987 events · events hub