The Graveyard › Banks › 1988
Biwabik State Bank
Biwabik, MN · failed August 26, 1988 · FDIC certificate 17163
Biwabik State Bank of Biwabik, MN failed on August 26, 1988. It opened on January 2, 1953, 35 years before. At its last report before that it held $3.2 million in assets and $3.2 million in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1984, it held $5.1 million. The FDIC estimates that the FDIC's insurance fund lost $450,634 on it.
1984-031988-06
Assets at the end$3.2 millionlast report before August 26, 1988
Deposits at the end$3.2 million
Estimated loss to the fund$450,634FDIC
Largest in the quarterly reports$5.1 millionDecember 31, 1984
Equity to assets-0.5%June 30, 1988
Loans not being repaid3.7%noncurrent, June 30, 1988
Return on assets-7.50%a year's rate, June 30, 1988
Staff6full time, June 30, 1988
Also ended in 1988
- American S&LA · Stockton · $30.2 billion in assets · assisted
- First Republicbank-Dallas, N.A. · Dallas, TX · $17.1 billion in assets
- Gibraltar SA · Houston · $6.5 billion in assets · assisted
- United Savings Association of Texas · Houston · $4.6 billion in assets · assisted
- First City, Texas - Houston, NA · Houston · $4.4 billion in assets · assisted
- First Texas Savings Association · Dallas · $3.1 billion 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.