Bank Failure
The Farmers State Bank
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Closed September 23, 1989 · Lyman, NE · FDIC Cert #16342.
- Closing date
- September 23, 1989
- Headquarters
- Lyman, NE
- FDIC Certificate
- 16342
- Total assets at closing
- $5.7M
- Total deposits at closing
- $5.6M
- Estimated loss to the insurance fund
- $1.0M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First National Bank in Morr
Context
On September 23, 1989, regulators closed The Farmers State Bank, headquartered in Lyman, NE. At closing, the institution held approximately $5.7M in assets and $5.6M in deposits. The FDIC record names First National Bank in Morr as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $1.0M.
By assets at closing this is the 2968th largest of the 3,526 bank failures in the FDIC record, and the 523rd of 530 in 1989. 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 September 23, 1989.
Who acquired The Farmers State Bank?
The FDIC record names First National Bank in Morr 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 $5.7M in total assets and $5.6M in deposits at the time of failure.
Other failures in 1989
| Date | Bank | Assets |
|---|---|---|
| Dec 21, 1989 | Columbia FSA | $77.1M |
| Dec 21, 1989 | Silver Savings Assoc. | $32.2M |
| Dec 20, 1989 | First City National Bank and Trust | $39.5M |
| Dec 20, 1989 | United Community Bank | $32.3M |
| Dec 15, 1989 | First American Bank and Trust | $1.38B |
| Dec 14, 1989 | Yorkridge-Calvert Federal Savings | $585.8M |
| Dec 14, 1989 | Louisiana Savings Assn. | $449.3M |
| Dec 14, 1989 | First Acadiana Bank | $46.8M |
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