The Graveyard › Banks › 1987
Citizens Bank of Ray
Ray, ND · failed October 15, 1987 · FDIC certificate 10252
Citizens Bank of Ray of Ray, ND failed on October 15, 1987. It opened in 1906, 81 years before. At its last report before that it held $11.7 million in assets and $11.3 million in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1986, it held $15.2 million. The FDIC estimates that the FDIC's insurance fund lost $1.9 million on it.
1984-031987-09
Assets at the end$11.7 millionlast report before October 15, 1987
Deposits at the end$11.3 million
Estimated loss to the fund$1.9 millionFDIC
Largest in the quarterly reports$15.2 millionDecember 31, 1986
Equity to assets2.5%September 30, 1987
Loans not being repaid28.3%noncurrent, September 30, 1987
Return on assets-7.59%a year's rate, September 30, 1987
Staff11full time, September 30, 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.