Data / Bank failures / 1983 / Community Bank
Community Bank, Hartford, SD: failed June 17, 1983
Community Bank in Hartford, South Dakota, failed on June 17, 1983. Western Bank of Sioux Falls, SD, took over its deposits. It held $32 million in assets and $28.3 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $5.9 million (18.4% of its assets). By assets it was the 66th largest of 99 banks closed or assisted in 1983.
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The FDIC's record
- Closed
- June 17, 1983
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Western Bank, Sioux Falls, SD
- Total assets
- $32,007,000
- Total deposits
- $28,291,000
- Estimated cost to the FDIC
- $5,894,347 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 6066
Other bank failures in South Dakota, 1981 to 1985
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Mitchell Home S&LA (assistance) | Mitchell | August 1, 1984 | $16.6 million | $18 million | Metropolitan Fed BK FSB | |
| Farmers State Bank | Lyons | June 15, 1984 | $3.2 million | $3 million | $854,695 | Dakota State Bank |
| First Dakota Home S&LA (assistance) | Pierre | June 10, 1983 | $27.8 million | $26.1 million | $1.8 million | Home FS&LA Sioux Falls |
| First FS&LA of Sioux Falls (assistance) | Sioux Falls | June 10, 1983 | $78 million | $75.3 million | $6.9 million | Home FS&LA Sioux Falls |
| Home Trust S&LA (assistance) | Vermillion | December 20, 1982 | $13.2 million | $12.1 million | $300,000 | Home Trust S&LA |
| First Dakota Home S&LA (assistance) | Pierre | September 20, 1982 | $27.8 million | $25.6 million | $1.1 million | First Dakota Home S&LA |
| First FS&LA of Sioux Falls (assistance) | Sioux Falls | September 20, 1982 | $78.2 million | $74.3 million | $2.9 million | First Dakota Home S&LA |
| Perpetual S&LA (assistance) | Rapid City | September 15, 1981 | $49.7 million | $39.2 million | $9.4 million | First FS&LA of Rapid City |
Other failed banks Western Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Maritime Bank of California | Los Angeles | CA | August 27, 1993 | $31.8 million | $30.9 million | $5.9 million | Western Bank |
| Olympic National Bank | Los Angeles | CA | April 2, 1993 | $82.4 million | $80.5 million | $25.2 million | Western Bank |
| Columbia National Bank | Santa Monica | CA | January 22, 1993 | $47.6 million | $47.6 million | $17.6 million | Western Bank |
| The Merchants Bank of California | Beverly Hills | CA | June 8, 1990 | $62.4 million | $61 million | $3.4 million | Western Bank |
All bank failures in 1983 · All bank failures in South Dakota · Every failed bank Western 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.