The Graveyard › Banks › 1989
The Lee State Bank
Browerville, MN · failed November 9, 1989 · FDIC certificate 15080
The Lee State Bank of Browerville, MN failed on November 9, 1989. It opened in 1890, 99 years before. At its last report before that it held $13.4 million in assets and $13.5 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1987, it held $17.9 million. The FDIC estimates that the Bank Insurance Fund lost $2.7 million on it.
1984-031989-09
Assets at the end$13.4 millionlast report before November 9, 1989
Deposits at the end$13.5 million
Estimated loss to the fund$2.7 millionBIF
Largest in the quarterly reports$17.9 millionJune 30, 1987
Equity to assets-1.8%September 30, 1989
Loans not being repaid29.1%noncurrent, September 30, 1989
Return on assets-1.22%a year's rate, September 30, 1989
Staff13full time, September 30, 1989
Also ended in 1989
- Gibraltar Savings, FA · Simi Valley, CA · $13.4 billion in assets
- City Savings, FSB · Somerset, NJ · $9.8 billion in assets
- MBank Dallas, National Association · Dallas, TX · $6.6 billion in assets
- Western Savings & Loan · Phoenix, AZ · $5.7 billion in assets
- Lincoln Savings & Loan · Irvine, CA · $4.9 billion in assets
- University Federal Savings · Houston, TX · $4.5 billion in assets
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.