The Graveyard › Banks › 1987

First State Bank of Rollingstone

Rollingstone, MN · failed September 11, 1987 · FDIC certificate 9768

First State Bank of Rollingstone of Rollingstone, MN failed on September 11, 1987. It opened on January 16, 1905, 82 years before. At its last report before that it held $15.2 million in assets and $14.4 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1985, it held $16.1 million. The FDIC estimates that the FDIC's insurance fund lost $3.0 million on it.

1984-031987-06

Assets at the end$15.2 millionlast report before September 11, 1987

Deposits at the end$14.4 million

Estimated loss to the fund$3.0 millionFDIC

Largest in the quarterly reports$16.1 millionJune 30, 1985

Equity to assets3.9%June 30, 1987

Loans not being repaid8.3%noncurrent, June 30, 1987

Return on assets-4.22%a year's rate, June 30, 1987

Staff12full time, June 30, 1987

Could you have seen it coming? Play Black Monday

Also ended in 1987

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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.