Data / Bank failures / 1985 / Bank of Panama
Bank of Panama, Panama, NE: failed December 19, 1985
Bank of Panama in Panama, Nebraska, failed on December 19, 1985. Farmers State Bank of Douglas, NE, took over its deposits. It held $4.4 million in assets and $4.3 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $1.4 million (32.3% of its assets). By assets it was the 170th largest of 180 banks closed or assisted in 1985.
SpecStream is the live web data engine for teams and agents. It reads the FDIC failed bank data every morning, and this page is that reading. Ask for the banks you follow and each new closure arrives in your sheet, CRM, Slack or agent as the FDIC announces it.
The FDIC's record
- Closed
- December 19, 1985
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Farmers State Bank, Douglas, NE
- Total assets
- $4,376,000
- Total deposits
- $4,281,000
- Estimated cost to the FDIC
- $1,415,550 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 18726
Other bank failures in Nebraska, 1983 to 1987
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| State Bank of Jansen | Jansen | December 3, 1987 | $5 million | $4.6 million | $264,440 | Security NB of Superior |
| Crofton State Bank | Crofton | December 3, 1987 | $11.6 million | $10.8 million | $1.7 million | FARMERS&MERCHANTS STB BL |
| Center State Bank | Center | December 3, 1987 | $8.4 million | $8 million | $1.6 million | FARMERS&MERCHANTS STB BL |
| First State Bank | Oakdale | December 3, 1987 | $5.6 million | $5.4 million | $499,508 | First United Bank |
| American Security Bank | North Platte | October 30, 1987 | $27.1 million | $26.5 million | $3.7 million | North Platte National Ba |
| Security State Bank | Oxford | October 1, 1987 | $12.2 million | $11.7 million | $1.8 million | Union BANK&TRUST Co |
| Bank of Gering | Gering | October 23, 1986 | $24.2 million | $22.2 million | $3.9 million | First State Bank |
| The Gering National Bank & Trust | Gering | July 31, 1986 | $70.2 million | $70.6 million | $19.5 million | Scottsbluff NB&T Co |
Other failed banks Farmers State Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| The First National Bank of Worth | Wortham | TX | February 14, 1991 | $7.3 million | $7.7 million | $2.1 million | Farmers State Bank |
| The Garnett S & L Assoc. | Garnett | KS | December 7, 1989 | $13.6 million | $14.5 million | $794,302 | Farmers State Bank |
| The Falun State Bank (assistance) | Falun | KS | December 29, 1987 | $3.1 million | $3.1 million | $50,000 | Farmers State Bank |
| The Bank of Red Oak | Red Oak | OK | December 16, 1983 | $11.1 million | $10.5 million | $2.8 million | Farmers State Bank |
All bank failures in 1985 · All bank failures in Nebraska · Every failed bank Farmers State Bank took over · 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.