Bank Failure
The First National Bank of Prairie City
BankRegReports is independent of The First National Bank of Prairie City and never asks for online banking logins or passwords.
Closed July 24, 1986 · Prairie City, IA · FDIC Cert #4492.
- Closing date
- July 24, 1986
- Headquarters
- Prairie City, IA
- FDIC Certificate
- 4492
- Total assets (last filing before closing)
- $18.9M
- Total deposits (last filing before closing)
- $19.2M
- Estimated loss to the insurance fund
- $1.8M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Security Bank
Context
On July 24, 1986, regulators closed The First National Bank of Prairie City, headquartered in Prairie City, IA. At closing, the institution held approximately $18.9M in assets and $19.2M in deposits. The FDIC record names Security Bank as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $1.8M.
By total assets in its last filing before closing, this is the 2383rd largest of the 3,526 bank failures in the FDIC record, and the 102nd of 162 in 1986. 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, in nominal dollars, and can differ from the balance on the closing day.
Common questions
When did The First National Bank of Prairie City fail?
The First National Bank of Prairie City was closed by regulators on July 24, 1986.
Who acquired The First National Bank of Prairie City?
The FDIC record names Security Bank as the acquiring institution in the resolution of The First National Bank of Prairie City.
How big was The First National Bank of Prairie City when it failed?
The First National Bank of Prairie City had approximately $18.9M in total assets and $19.2M in deposits at the time of failure.
Other failures in 1986
| Date | Bank | Assets |
|---|---|---|
| Dec 19, 1986 | Lakeland State Bank | $49.4M |
| Dec 19, 1986 | Farmers State Bank | $9.7M |
| Dec 18, 1986 | First Bank & Trust Co. | $94.9M |
| Dec 18, 1986 | Landmark National Bank | $12.9M |
| Dec 18, 1986 | Lago Vista National Bank | $11.9M |
| Dec 12, 1986 | Guaranty Federal Bank FSB | $63.8M |
| Dec 12, 1986 | First Savings of America | $47.0M |
| Dec 9, 1986 | The Citizens Bank of Windsor | $24.8M |
Explore: all failures · IA bank events · Bank failures in Iowa · 1986 events · events hub