Data / Bank failures / 1986 / Citizens State Bank
Citizens State Bank, Iowa Falls, IA: failed July 31, 1986
Citizens State Bank in Iowa Falls, Iowa, failed on July 31, 1986. Green Belt BANK&TRUST of Iowa Falls, IA, took over its deposits. It held $54 million in assets and $53.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $4.8 million (9% of its assets). By assets it was the 72nd largest of 204 banks closed or assisted in 1986.
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
- July 31, 1986
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Green Belt BANK&TRUST, Iowa Falls, IA
- Total assets
- $53,963,000
- Total deposits
- $53,474,000
- Estimated cost to the FDIC
- $4,831,761 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 15109
Other bank failures in Iowa, 1984 to 1988
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Home FS&LA (assistance) | Spencer | December 30, 1988 | $46.5 million | $51.6 million | $9 million | Northwest FSB |
| Northwest FS&LA (assistance) | Spencer | December 30, 1988 | $129.1 million | $144.6 million | $66.5 million | Northwest FSB |
| First Financial SB (assistance) | Des Moines | December 28, 1988 | $262.7 million | $211.4 million | $85.7 million | Metropolitan Federal Bank O |
| Midamerica SB (assistance) | Waterloo | December 12, 1988 | $244.3 million | $232.3 million | $14 million | Midamerica Savings Bank |
| Pisgah Savings Bank | Pisgah | September 1, 1988 | $9.7 million | $9.3 million | $3 million | Iowa Savings Bank |
| Mingo Trust & Savings Bank | Mingo | September 1, 1988 | $12.1 million | $11.4 million | $775,307 | Exchange State Bank |
| Pioneer FS&LA in Mason City (assistance) | Mason City | August 26, 1988 | $314 million | $310 million | $141.2 million | Pioneer FS&LA |
| Western FS&LA (assistance) | Council Bluffs | August 11, 1988 | $23.9 million | $39.1 million | $11.7 million | First FS&LA of Lincoln-Iowa |
All bank failures in 1986 · All bank failures in Iowa · 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.