Data / Bank failures / 1987 / Beaver Creek State Bank
Beaver Creek State Bank, Beaver Creek, MN: failed March 13, 1987
Beaver Creek State Bank in Beaver Creek, Minnesota, failed on March 13, 1987. Citizens STB of Silver L of Silver Lake, MN, took over its deposits. It held $7.3 million in assets and $7.1 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $963,741 (13.3% of its assets). By assets it was the 240th largest of 262 banks closed or assisted in 1987.
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The FDIC's record
- Closed
- March 13, 1987
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- Citizens STB of Silver L, Silver Lake, MN
- Total assets
- $7,269,000
- Total deposits
- $7,149,000
- Estimated cost to the FDIC
- $963,741 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 8846
Other bank failures in Minnesota, 1985 to 1989
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| The Lee State Bank | Browerville | November 9, 1989 | $13.4 million | $13.5 million | $2.7 million | First National Bank of Long |
| Midwest Federal Savings | Minneapolis | February 13, 1989 | $3.26 billion | $2.24 billion | $754.8 million | |
| Watson State Bank | Watson | September 30, 1988 | $13.7 million | $12.9 million | $5.1 million | Minnwest Bank Montevideo |
| Peoples S&LA (assistance) | Owantonna | August 26, 1988 | $210.8 million | $203.7 million | $35.5 million | Metropolitan Fed BK FSB |
| First FS&LA of Grand Rapids (assistance) | Grand Rapids | August 26, 1988 | $105.9 million | $96.9 million | $44.6 million | First FS&LA of Brainerd |
| First FS&LA of Hibbing (assistance) | Hibbing | August 26, 1988 | $47.3 million | $67.2 million | $32.2 million | First FS&LA of Brainerd |
| First FS&LA of Brainerd (assistance) | Brainerd | August 26, 1988 | $86.6 million | $104.2 million | $54.4 million | First FS&LA of Brainerd |
| Washington FSB of Stillwater (assistance) | Stillwater | August 26, 1988 | $295.8 million | $319.4 million | $165.3 million | Pioneer FS&LA |
Other failed banks Citizens STB of Silver L took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Farmers State Bank of Kanaranzi | Kanaranzi | MN | October 18, 1985 | $3.9 million | $3.8 million | $997,195 | Citizens STB of Silver L |
All bank failures in 1987 · All bank failures in Minnesota · Every failed bank Citizens STB of Silver L 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.