Data / Bank failures / 1988 / Farmers & Merchants Bank of Elmo
Farmers & Merchants Bank of Elmo, Elmo, MO: failed August 4, 1988
Farmers & Merchants Bank of Elmo in Elmo, Missouri, failed on August 4, 1988. First Bank of Maryville of Maryville, MO, took over its deposits. It held $9.2 million in assets and $8.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $2.6 million (28.5% of its assets). By assets it was the 445th largest of 470 banks closed or assisted in 1988.
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
- August 4, 1988
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First Bank of Maryville, Maryville, MO
- Total assets
- $9,189,000
- Total deposits
- $8,826,000
- Estimated cost to the FDIC
- $2,616,522 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 13644
Other bank failures in Missouri, 1986 to 1990
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Community FS & La | ST. Louis | December 14, 1990 | $1.98 billion | $2.28 billion | $305.9 million | Boatmen's Bancshares, Inc. |
| Boonslick S & La | Boonville | November 2, 1990 | $70.2 million | $70.1 million | $2.9 million | |
| Gentry County Bank | Albany | May 24, 1990 | $42.3 million | $46.3 million | $5.6 million | Citizens National Bank |
| First Fed. Savings Bank & Trust | Independence | May 4, 1990 | $25.4 million | $21.1 million | $9.9 million | Bank 10 |
| Colonial S & La | Cape Girardeau | January 26, 1990 | $170.9 million | $157.4 million | $8 million | |
| ST. Louis County Savings Assoc. | Ferguson | January 11, 1990 | $85.8 million | $81.2 million | $9,713 | South Side NB in ST. Louis |
| 102 Valley Bank | Hopkins | July 5, 1989 | $5 million | $5 million | $1.7 million | The Nodaway Valley Bank |
| Mid Missouri S & L Assoc. | Boonville | June 29, 1989 | $76.7 million | $67.6 million | $16.6 million | United S&LA |
Other failed banks First Bank of Maryville took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| First Midwest Bank | Maryville | MO | June 18, 1987 | $25.6 million | $25.7 million | $1.8 million | First Bank of Maryville |
All bank failures in 1988 · All bank failures in Missouri · Every failed bank First Bank of Maryville 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.