The Graveyard › Banks › 1987
First National Bank in West Concord
West Concord, MN · failed March 5, 1987 · FDIC certificate 14426
First National Bank in West Concord of West Concord, MN failed on March 5, 1987. It opened in 1934, 53 years before. At its last report before that it held $9.1 million in assets and $8.7 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1986, it held $9.9 million. The FDIC estimates that the FDIC's insurance fund lost $1.4 million on it.
1984-031986-12
Assets at the end$9.1 millionlast report before March 5, 1987
Deposits at the end$8.7 million
Estimated loss to the fund$1.4 millionFDIC
Largest in the quarterly reports$9.9 millionMarch 31, 1986
Equity to assets2.8%December 31, 1986
Loans not being repaid4.6%noncurrent, December 31, 1986
Return on assets-4.28%a year's rate, December 31, 1986
Staff7full time, December 31, 1986
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.