The Graveyard › Banks › 1985
The Steele State Bank
Cherokee, IA · failed January 25, 1985 · FDIC certificate 17833
The Steele State Bank of Cherokee, IA failed on January 25, 1985. It opened in 1874, 111 years before. At its last report before that it held $21.9 million in assets and $20.6 million in deposits. The FDIC estimates that the FDIC's insurance fund lost $3.3 million on it.
1984-031984-09
Assets at the end$21.9 millionlast report before January 25, 1985
Deposits at the end$20.6 million
Estimated loss to the fund$3.3 millionFDIC
Largest in the quarterly reports$22.2 millionJune 30, 1984
Equity to assets4.9%September 30, 1984
Loans not being repaid12.3%noncurrent, September 30, 1984
Return on assets-2.35%a year's rate, September 30, 1984
Staff18full time, September 30, 1984
Also ended in 1985
- Bowery Savings Bank · New York · $5.3 billion in assets · assisted
- Beverly Hills S&LA · Beverly Hills · $2.9 billion in assets · assisted
- Central S&LA · San Diego · $2.3 billion in assets · assisted
- Bell S&LA · San Mateo · $1.6 billion in assets · assisted
- Eureka Fs&La · San Carlos · $1.6 billion in assets · assisted
- Sunrise, S&LA · Lake Worth, FL · $1.5 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.