The Graveyard › Banks › 1987

The First State Bank

Oakdale, NE · failed December 3, 1987 · FDIC certificate 5450

The First State Bank of Oakdale, NE failed on December 3, 1987. It opened on June 17, 1929, 58 years before. At its last report before that it held $5.6 million in assets and $5.4 million in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1986, it held $7.1 million. The FDIC estimates that the FDIC's insurance fund lost $499,508 on it.

1984-031987-09

Assets at the end$5.6 millionlast report before December 3, 1987

Deposits at the end$5.4 million

Estimated loss to the fund$499,508FDIC

Largest in the quarterly reports$7.1 millionDecember 31, 1986

Equity to assets2.1%September 30, 1987

Loans not being repaid8.8%noncurrent, September 30, 1987

Return on assets-6.82%a year's rate, September 30, 1987

Staff6full time, September 30, 1987

On the FDIC's list: FIRST STATE BANK.

Could you have seen it coming? Play Black Monday

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.