Data / Bank failures / 1987 / Citizens Bank of Ray
Citizens Bank of Ray, Ray, ND: failed October 15, 1987
Citizens Bank of Ray in Ray, North Dakota, failed on October 15, 1987. First NB&T Co of Willist of Williston, ND, took over its deposits. It held $11.7 million in assets and $11.3 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $1.9 million (16.1% of its assets). By assets it was the 204th largest of 262 banks closed or assisted in 1987.
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The FDIC's record
- Closed
- October 15, 1987
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First NB&T Co of Willist, Williston, ND
- Total assets
- $11,720,000
- Total deposits
- $11,332,000
- Estimated cost to the FDIC
- $1,883,466 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 10252
Other bank failures in North Dakota, 1985 to 1989
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Central Dakota Bank | Lehr | December 1, 1989 | $13.9 million | $13.7 million | $2.7 million | Security State Bank, Wishek |
| The Dakota Bank | Grand Forks | August 24, 1989 | $31.2 million | $28.6 million | $2.9 million | First National Bank South |
| Williston Basin State Bank | Williston | January 21, 1988 | $14 million | $13.6 million | $4.4 million | First NB&T Co of Willist |
| Farmers State Bank | Maddock | May 8, 1987 | $11.9 million | $11.7 million | $1.1 million | Ramsey NB&T Co Devils La |
Other failed banks First NB&T Co of Willist took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Williston Basin State Bank | Williston | ND | January 21, 1988 | $14 million | $13.6 million | $4.4 million | First NB&T Co of Willist |
All bank failures in 1987 · All bank failures in North Dakota · Every failed bank First NB&T Co of Willist 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.