The Graveyard › Banks › 1987
The First National Bank of Elbow Lake
Elbow Lake, MN · failed May 14, 1987 · FDIC certificate 5135
The First National Bank of Elbow Lake of Elbow Lake, MN failed on May 14, 1987. It opened in 1891, 96 years before. At its last report before that it held $14.2 million in assets and $15.7 million in deposits. At its largest in the FDIC's quarterly reports, on September 30, 1984, it held $19.2 million. The FDIC estimates that the FDIC's insurance fund lost $7.7 million on it.
1984-031987-03
Assets at the end$14.2 millionlast report before May 14, 1987
Deposits at the end$15.7 million
Estimated loss to the fund$7.7 millionFDIC
Largest in the quarterly reports$19.2 millionSeptember 30, 1984
Equity to assets-20.4%March 31, 1987
Loans not being repaid34.6%noncurrent, March 31, 1987
Return on assets-89.16%a year's rate, March 31, 1987
Staff14full time, March 31, 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.