The Graveyard › Banks › 1988
State Bank of Morgan
Morgan, MN · failed March 18, 1988 · FDIC certificate 1930
State Bank of Morgan of Morgan, MN failed on March 18, 1988. It opened on August 1, 1893, 94 years before. At its last report before that it held $20.3 million in assets and $20.0 million in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1986, it held $26.1 million. The FDIC estimates that the FDIC's insurance fund lost $2.2 million on it.
1984-031987-12
Assets at the end$20.3 millionlast report before March 18, 1988
Deposits at the end$20.0 million
Estimated loss to the fund$2.2 millionFDIC
Largest in the quarterly reports$26.1 millionDecember 31, 1986
Equity to assets-1.1%December 31, 1987
Loans not being repaid11.7%noncurrent, December 31, 1987
Return on assets-8.29%a year's rate, December 31, 1987
Staff12full time, December 31, 1987
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.