Bank Failure
The First State Bank
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Closed August 22, 1984 · Thayer, KS · FDIC Cert #4780.
- Closing date
- August 22, 1984
- Headquarters
- Thayer, KS
- FDIC Certificate
- 4780
- Total assets at closing
- $12.2M
- Total deposits at closing
- $11.2M
- Estimated loss to the insurance fund
- $5.1M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- First State Bank
Context
On August 22, 1984, regulators closed The First State Bank, headquartered in Thayer, KS. At closing, the institution held approximately $12.2M in assets and $11.2M in deposits. The FDIC record names First State Bank as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $5.1M.
By assets at closing this is the 2677th largest of the 3,526 bank failures in the FDIC record, and the 63rd 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 First State Bank fail?
The First State Bank was closed by regulators on August 22, 1984.
Who acquired The First State Bank?
The FDIC record names First State Bank as the acquiring institution in the resolution of The First State Bank.
How big was The First State Bank when it failed?
The First State Bank had approximately $12.2M in total assets and $11.2M in deposits at the time of failure.
Other failures in 1984
| Date | Bank | Assets |
|---|---|---|
| Dec 22, 1984 | First Security Bank | $13.4M |
| Dec 20, 1984 | The Farmers State Bank | $14.6M |
| 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 |
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