The Graveyard › Banks › 1987
Bank of Iron County
Parowan, UT · failed April 10, 1987 · FDIC certificate 16617
Bank of Iron County of Parowan, UT failed on April 10, 1987. It opened on September 2, 1947, 39 years before. At its last report before that it held $19.8 million in assets and $19.5 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1985, it held $25.4 million. The FDIC estimates that the FDIC's insurance fund lost $3.8 million on it.
1984-031987-03
Assets at the end$19.8 millionlast report before April 10, 1987
Deposits at the end$19.5 million
Estimated loss to the fund$3.8 millionFDIC
Largest in the quarterly reports$25.4 millionMarch 31, 1985
Equity to assets1.2%March 31, 1987
Loans not being repaid18.0%noncurrent, March 31, 1987
Return on assets-0.74%a year's rate, March 31, 1987
Staff40full time, March 31, 1987
Also ended in 1987
- Lyons Federal Trust & Savings · Countryside · $2.3 billion in assets · assisted
- Freedom S&LA · Tampa, FL · $1.9 billion in assets
- Vernon S&LA · Vernon, TX · $1.3 billion in assets
- Syracuse Savings Bank · Syracuse · $1.2 billion in assets · assisted
- Independent American SA · Irving, TX · $1.0 billion in assets
- First Financial Bank, FSB · New Orleans · $744.9 million in assets · assisted
History, not advice.
Source: Federal Deposit Insurance Corporation, BankFind Suite API. Source values and institutional identifiers are retained; formatting and normalization by Underfolio. No FDIC endorsement is implied. How these numbers are made · Report a data issue.