Bank Failure
The Mission State BK & TR Co.
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Closed August 8, 1980 · Mission, KS · FDIC Cert #1368.
- Closing date
- August 8, 1980
- Headquarters
- Mission, KS
- FDIC Certificate
- 1368
- Total assets at closing
- $86.4M
- Total deposits at closing
- $79.6M
- Estimated loss to the insurance fund
- $15.0M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Mission Bank
Context
On August 8, 1980, regulators closed The Mission State BK & TR Co., headquartered in Mission, KS. At closing, the institution held approximately $86.4M in assets and $79.6M in deposits. The FDIC record names Mission Bank as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $15.0M.
By assets at closing this is the 1285th largest of the 3,526 bank failures in the FDIC record, and the 1st of 10 in 1980. 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 Mission State BK & TR Co. fail?
The Mission State BK & TR Co. was closed by regulators on August 8, 1980.
Who acquired The Mission State BK & TR Co.?
The FDIC record names Mission Bank as the acquiring institution in the resolution of The Mission State BK & TR Co.
How big was The Mission State BK & TR Co. when it failed?
The Mission State BK & TR Co. had approximately $86.4M in total assets and $79.6M in deposits at the time of failure.
Other failures in 1980
| Date | Bank | Assets |
|---|---|---|
| Dec 31, 1980 | East Gadsden Bank | $44.0M |
| Nov 21, 1980 | Citizens State BK of Galena | $10.3M |
| Oct 11, 1980 | The Rochelle BK & TR Co. | $8.4M |
| Sep 12, 1980 | The Metro BK of Huntington, Inc. | $27.0M |
| Jun 28, 1980 | City & County BK of Campbell CTY | $39.8M |
| Jun 4, 1980 | The Citizens State Bank | $2.0M |
| Feb 16, 1980 | Mohawk BK & TR Co. | $5.9M |
| Feb 12, 1980 | First National BK of Carrington | $12.4M |
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