The Graveyard › Banks › 1988
Watson State Bank
Watson, MN · failed September 30, 1988 · FDIC certificate 8837
Watson State Bank of Watson, MN failed on September 30, 1988. It opened in 1934, 54 years before. At its last report before that it held $13.7 million in assets and $12.9 million in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1985, it held $16.9 million. The FDIC estimates that the FDIC's insurance fund lost $5.1 million on it.
1984-031988-06
Assets at the end$13.7 millionlast report before September 30, 1988
Deposits at the end$12.9 million
Estimated loss to the fund$5.1 millionFDIC
Largest in the quarterly reports$16.9 millionDecember 31, 1985
Equity to assets0.5%June 30, 1988
Loans not being repaid19.0%noncurrent, June 30, 1988
Return on assets0.18%a year's rate, June 30, 1988
Staff9full time, June 30, 1988
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.