Bank Failure
The First National Bank in Lincoln County
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Closed December 13, 1985 · Ruidoso, NM · FDIC Cert #23977.
- Closing date
- December 13, 1985
- Headquarters
- Ruidoso, NM
- FDIC Certificate
- 23977
- Total assets at closing
- $32.0M
- Total deposits at closing
- $30.7M
- Estimated loss to the insurance fund
- $16.7M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- First NB of Ruidoso
Context
On December 13, 1985, regulators closed The First National Bank in Lincoln County, headquartered in Ruidoso, NM. At closing, the institution held approximately $32.0M in assets and $30.7M in deposits. The FDIC record names First NB of Ruidoso as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $16.7M.
By assets at closing this is the 1998th largest of the 3,526 bank failures in the FDIC record, and the 48th of 139 in 1985. 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 First National Bank in Lincoln County fail?
The First National Bank in Lincoln County was closed by regulators on December 13, 1985.
Who acquired The First National Bank in Lincoln County?
The FDIC record names First NB of Ruidoso as the acquiring institution in the resolution of The First National Bank in Lincoln County.
How big was The First National Bank in Lincoln County when it failed?
The First National Bank in Lincoln County had approximately $32.0M in total assets and $30.7M in deposits at the time of failure.
Other failures in 1985
| Date | Bank | Assets |
|---|---|---|
| Dec 20, 1985 | First City Bank | $35.8M |
| Dec 20, 1985 | State Bank of Frost | $7.7M |
| Dec 19, 1985 | Princeton State Bank | $18.4M |
| Dec 19, 1985 | Farmers State Bank | $12.5M |
| Dec 19, 1985 | Bank of Panama | $4.4M |
| Dec 19, 1985 | Farmers & Merchants Bank | $3.3M |
| Dec 13, 1985 | Lake National Bank | $19.8M |
| Dec 13, 1985 | The Farmers State Bank of Barry County, Ex | $4.2M |
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