Bank Failure
The Lone Rock Bank, N.A.
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Closed May 29, 1986 · Lone Rock, IA · FDIC Cert #25297.
- Closing date
- May 29, 1986
- Headquarters
- Lone Rock, IA
- FDIC Certificate
- 25297
- Total assets at closing
- $7.5M
- Total deposits at closing
- $7.2M
- Estimated loss to the insurance fund
- $2.2M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Swea City State Bank
Context
On May 29, 1986, regulators closed The Lone Rock Bank, N.A., headquartered in Lone Rock, IA. At closing, the institution held approximately $7.5M in assets and $7.2M in deposits. The FDIC record names Swea City State Bank as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $2.2M.
By assets at closing this is the 2885th largest of the 3,526 bank failures in the FDIC record, and the 146th 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.
Common questions
When did The Lone Rock Bank, N.A. fail?
The Lone Rock Bank, N.A. was closed by regulators on May 29, 1986.
Who acquired The Lone Rock Bank, N.A.?
The FDIC record names Swea City State Bank as the acquiring institution in the resolution of The Lone Rock Bank, N.A.
How big was The Lone Rock Bank, N.A. when it failed?
The Lone Rock Bank, N.A. had approximately $7.5M in total assets and $7.2M 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 |
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