Bank Failure
The Farmers State Bank
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Closed December 20, 1984 · Selden, KS · FDIC Cert #17700.
- Closing date
- December 20, 1984
- Headquarters
- Selden, KS
- FDIC Certificate
- 17700
- Total assets at closing
- $14.6M
- Total deposits at closing
- $13.7M
- Estimated loss to the insurance fund
- $8.0M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Selden State Bank
Context
On December 20, 1984, regulators closed The Farmers State Bank, headquartered in Selden, KS. At closing, the institution held approximately $14.6M in assets and $13.7M in deposits. The FDIC record names Selden State Bank as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $8.0M.
By assets at closing this is the 2556th largest of the 3,526 bank failures in the FDIC record, and the 54th of 83 in 1984. 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 Farmers State Bank fail?
The Farmers State Bank was closed by regulators on December 20, 1984.
Who acquired The Farmers State Bank?
The FDIC record names Selden State Bank as the acquiring institution in the resolution of The Farmers State Bank.
How big was The Farmers State Bank when it failed?
The Farmers State Bank had approximately $14.6M in total assets and $13.7M in deposits at the time of failure.
Other failures in 1984
| Date | Bank | Assets |
|---|---|---|
| Dec 22, 1984 | First Security Bank | $13.4M |
| Dec 18, 1984 | Uehling State Bank | $4.2M |
| Dec 11, 1984 | University Bank of Wichita | $4.7M |
| Dec 7, 1984 | San Marino S&LA | $856.8M |
| Dec 7, 1984 | Farmers State BK of Holyoke | $3.9M |
| Dec 4, 1984 | Golden Spike State Bank | $7.8M |
| Nov 30, 1984 | The Dayton BK & TR Co. | $51.4M |
| Nov 29, 1984 | The Strong City State Bank | $5.0M |
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