Bank Failure
THE AMERICAN STATE BANK
Closed May 18, 1988 · YANKTON, SD · FDIC Cert #6086.
- Closing date
- May 18, 1988
- Headquarters
- YANKTON, SD
- FDIC Certificate
- 6086
- Total assets at closing
- $62,095,000
- Total deposits at closing
- $58,954,000
- Estimated loss to DIF
- $265,000
- Resolution type
- other
- Acquirer
- FIRST DAKOTA NATIONAL BANK (FDIC Cert #1955)
Context
On May 18, 1988, regulators closed THE AMERICAN STATE BANK, headquartered in YANKTON, SD. At closing, the institution held approximately $62,095,000 in assets and $58,954,000 in deposits. The FDIC arranged a resolution under which FIRST DAKOTA NATIONAL BANK acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $265,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 1988
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 1988-12-31 | BROWARD FS&LA | SUNRISE, FL | $535,666,000 |
| 1988-12-31 | PEORIA S&LA | PEORIA, IL | $171,600,000 |
| 1988-12-30 | UNITED SAVINGS ASSOCIATION OF TEXAS | HOUSTON, TX | $4,644,939,000 |
| 1988-12-30 | COLUMBIA FS&LA | ENGLEWOOD, CO | $3,125,050,000 |
| 1988-12-30 | FIRST FS&LA OF JACKSONVILLE | JACKSONVILLE, FL | $1,243,932,000 |
| 1988-12-30 | PATHWAY FINANCIAL | CHICAGO, IL | $1,222,965,000 |
| 1988-12-30 | BEACH FS&LA | BOYNTON BEACH, FL | $1,141,671,000 |
| 1988-12-30 | JACKSON COUNTY FSA | MEDFORD, OR | $266,123,000 |
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