Bank Failure
The Rexford State Bank
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Closed October 10, 1984 · Rexford, KS · FDIC Cert #12867.
- Closing date
- October 10, 1984
- Headquarters
- Rexford, KS
- FDIC Certificate
- 12867
- Total assets at closing
- $5.8M
- Total deposits at closing
- $5.3M
- Estimated loss to the insurance fund
- $4.5M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Peoples STB of Rexford
Context
On October 10, 1984, regulators closed The Rexford State Bank, headquartered in Rexford, KS. At closing, the institution held approximately $5.8M in assets and $5.3M in deposits. The FDIC record names Peoples STB of Rexford as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $4.5M.
By assets at closing this is the 2964th largest of the 3,526 bank failures in the FDIC record, and the 76th 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 Rexford State Bank fail?
The Rexford State Bank was closed by regulators on October 10, 1984.
Who acquired The Rexford State Bank?
The FDIC record names Peoples STB of Rexford as the acquiring institution in the resolution of The Rexford State Bank.
How big was The Rexford State Bank when it failed?
The Rexford State Bank had approximately $5.8M in total assets and $5.3M 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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