The Graveyard › Banks › 1988

Citizens State Bank of Gibbon

Gibbon, MN · failed March 18, 1988 · FDIC certificate 13640

Citizens State Bank of Gibbon of Gibbon, MN failed on March 18, 1988. It opened on September 30, 1906, 81 years before. At its last report before that it held $15.1 million in assets and $14.8 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1984, it held $16.2 million. The FDIC estimates that the FDIC's insurance fund lost $4.1 million on it.

1984-031987-12

Assets at the end$15.1 millionlast report before March 18, 1988

Deposits at the end$14.8 million

Estimated loss to the fund$4.1 millionFDIC

Largest in the quarterly reports$16.2 millionJune 30, 1984

Equity to assets0.3%December 31, 1987

Loans not being repaid22.4%noncurrent, December 31, 1987

Return on assets-4.65%a year's rate, December 31, 1987

Staff11full time, December 31, 1987

On the FDIC's list: CITIZENS STATE BK OF GIBBON.

Could you have seen it coming? Play Black Monday

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.