Bank Failure
The Madison County Bank
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Closed January 21, 1983 · Fredericktown, MO · FDIC Cert #8593.
- Closing date
- January 21, 1983
- Headquarters
- Fredericktown, MO
- FDIC Certificate
- 8593
- Total assets at closing
- $7.0M
- Total deposits at closing
- $6.8M
- Estimated loss to the insurance fund
- $730K
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Madison Exchange Bank
Context
On January 21, 1983, regulators closed The Madison County Bank, headquartered in Fredericktown, MO. At closing, the institution held approximately $7.0M in assets and $6.8M in deposits. The FDIC record names Madison Exchange Bank as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $730K.
By assets at closing this is the 2908th largest of the 3,526 bank failures in the FDIC record, and the 48th of 50 in 1983. 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 Madison County Bank fail?
The Madison County Bank was closed by regulators on January 21, 1983.
Who acquired The Madison County Bank?
The FDIC record names Madison Exchange Bank as the acquiring institution in the resolution of The Madison County Bank.
How big was The Madison County Bank when it failed?
The Madison County Bank had approximately $7.0M in total assets and $6.8M in deposits at the time of failure.
Other failures in 1983
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1983 | The Bank of Red Oak | $11.1M |
| Dec 13, 1983 | Bank of Hackleburg | $6.5M |
| Dec 9, 1983 | Union Trust Company | $30.6M |
| Dec 2, 1983 | Metro FS&LA | $27.4M |
| Nov 25, 1983 | Atkinson Trust & Savings Bank | $21.1M |
| Nov 11, 1983 | First Nat BK of Browning | $13.7M |
| Nov 3, 1983 | State of Clovis, Sa | $30.9M |
| Oct 28, 1983 | Cleveland Community Savings Co. | $21.0M |
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