Bank Failure
The Citizens State Bank
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Closed April 10, 1987 · Brownstown, IN · FDIC Cert #10094.
- Closing date
- April 10, 1987
- Headquarters
- Brownstown, IN
- FDIC Certificate
- 10094
- Total assets at closing
- $29.0M
- Total deposits at closing
- $27.7M
- Estimated loss to the insurance fund
- $1.3M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Monroe County Bank
Context
On April 10, 1987, regulators closed The Citizens State Bank, headquartered in Brownstown, IN. At closing, the institution held approximately $29.0M in assets and $27.7M in deposits. The FDIC record names Monroe County Bank as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $1.3M.
By assets at closing this is the 2073rd largest of the 3,526 bank failures in the FDIC record, and the 84th 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 The Citizens State Bank fail?
The Citizens State Bank was closed by regulators on April 10, 1987.
Who acquired The Citizens State Bank?
The FDIC record names Monroe County Bank as the acquiring institution in the resolution of The Citizens State Bank.
How big was The Citizens State Bank when it failed?
The Citizens State Bank had approximately $29.0M in total assets and $27.7M 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 |
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