Bank Failure
Todd County State Bank
BankRegReports is independent of Todd County State Bank and never asks for online banking logins or passwords.
Closed May 14, 1987 · Long Prairie, MN · FDIC Cert #16684.
- Closing date
- May 14, 1987
- Headquarters
- Long Prairie, MN
- FDIC Certificate
- 16684
- Total assets at closing
- $15.4M
- Total deposits at closing
- $15.2M
- Estimated loss to the insurance fund
- $2.4M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- First NB of Long Prairie
Context
On May 14, 1987, regulators closed Todd County State Bank, headquartered in Long Prairie, MN. At closing, the institution held approximately $15.4M in assets and $15.2M in deposits. The FDIC record names First NB of Long Prairie as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $2.4M.
By assets at closing this is the 2520th largest of the 3,526 bank failures in the FDIC record, and the 129th of 217 in 1987. 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 Todd County State Bank fail?
Todd County State Bank was closed by regulators on May 14, 1987.
Who acquired Todd County State Bank?
The FDIC record names First NB of Long Prairie as the acquiring institution in the resolution of Todd County State Bank.
How big was Todd County State Bank when it failed?
Todd County State Bank had approximately $15.4M in total assets and $15.2M in deposits at the time of failure.
Other failures in 1987
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1987 | First State Bank at Shoshoni | $4.6M |
| Dec 17, 1987 | Usbank | $86.0M |
| Dec 17, 1987 | Bank of Mabank | $43.8M |
| Dec 17, 1987 | American Bank of Commerce | $35.5M |
| Dec 11, 1987 | First Interstate Bank of Alaska | $367.7M |
| Dec 11, 1987 | Lewis and Clark State Bank | $20.3M |
| Dec 10, 1987 | Heritage National Bank | $53.2M |
| Dec 10, 1987 | Bancfirst-Austin, N.A. | $25.3M |
Explore: all failures · MN bank events · 1987 events · events hub