Data / Bank failures / 1987 / American Security Bank
American Security Bank, North Platte, NE: failed October 30, 1987
American Security Bank in North Platte, Nebraska, failed on October 30, 1987. North Platte National Ba of North Platte, NE, took over its deposits. It held $27.1 million in assets and $26.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $3.7 million (13.8% of its assets). By assets it was the 116th largest of 262 banks closed or assisted in 1987.
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The FDIC's record
- Closed
- October 30, 1987
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- North Platte National Ba, North Platte, NE
- Total assets
- $27,124,000
- Total deposits
- $26,453,000
- Estimated cost to the FDIC
- $3,736,668 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 21579
Other bank failures in Nebraska, 1985 to 1989
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| The Farmers State Bank | Lyman | September 23, 1989 | $5.7 million | $5.6 million | $1 million | First National Bank in Morr |
| Nile Valley Federal S & L Assoc. | Scottsbluff | February 17, 1989 | $56.3 million | $64.1 million | $38.9 million | First NB&TC of North Platte |
| Occidental/nebraska FSB | Omaha | February 17, 1989 | $677.3 million | $529.9 million | $155.7 million | Firstier Bank, NA, Omaha |
| Equitable Federal Savings Bank | Fremont | February 17, 1989 | $225.2 million | $205.4 million | $28.6 million | Firstier Bank, NA, Omaha |
| Platte Valley FS & La | Gering | February 17, 1989 | $316.8 million | $320.8 million | $181.1 million | First NB&TC of North Platte |
| Midwest Fed. S & L Assoc. | Nebraska City | February 17, 1989 | $139.1 million | $119.7 million | $32 million | American NB |
| Platte Valley FS&LA | Gering | July 21, 1988 | $407.6 million | $400.1 million | ||
| Frenchman Valley Bank | Palisade | March 10, 1988 | $2.8 million | $2.7 million | $601,833 |
All bank failures in 1987 · All bank failures in Nebraska · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.