Bank Failure
Treasure State Bank
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Closed June 9, 1989 · Glasgow, MT · FDIC Cert #22612.
- Closing date
- June 9, 1989
- Headquarters
- Glasgow, MT
- FDIC Certificate
- 22612
- Total assets at closing
- $14.6M
- Total deposits at closing
- $13.2M
- Estimated loss to the insurance fund
- $2.6M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Valley Bank of Glasgow
Context
On June 9, 1989, regulators closed Treasure State Bank, headquartered in Glasgow, MT. At closing, the institution held approximately $14.6M in assets and $13.2M in deposits. The FDIC record names Valley Bank of Glasgow as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $2.6M.
By assets at closing this is the 2557th largest of the 3,526 bank failures in the FDIC record, and the 468th of 530 in 1989. 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 Treasure State Bank fail?
Treasure State Bank was closed by regulators on June 9, 1989.
Who acquired Treasure State Bank?
The FDIC record names Valley Bank of Glasgow as the acquiring institution in the resolution of Treasure State Bank.
How big was Treasure State Bank when it failed?
Treasure State Bank had approximately $14.6M in total assets and $13.2M in deposits at the time of failure.
Other failures in 1989
| Date | Bank | Assets |
|---|---|---|
| Dec 21, 1989 | Columbia FSA | $77.1M |
| Dec 21, 1989 | Silver Savings Assoc. | $32.2M |
| Dec 20, 1989 | First City National Bank and Trust | $39.5M |
| Dec 20, 1989 | United Community Bank | $32.3M |
| Dec 15, 1989 | First American Bank and Trust | $1.38B |
| Dec 14, 1989 | Yorkridge-Calvert Federal Savings | $585.8M |
| Dec 14, 1989 | Louisiana Savings Assn. | $449.3M |
| Dec 14, 1989 | First Acadiana Bank | $46.8M |
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