Data / Bank failures / 1985 / Farmers Savings Bank
Farmers Savings Bank, Massena, IA: failed May 3, 1985
Farmers Savings Bank in Massena, Iowa, failed on May 3, 1985. Union National Bank of Massena, IA, took over its deposits. It held $16.9 million in assets and $15.4 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $6.4 million (37.9% of its assets). By assets it was the 128th largest of 180 banks closed or assisted in 1985.
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The FDIC's record
- Closed
- May 3, 1985
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Union National Bank, Massena, IA
- Total assets
- $16,920,000
- Total deposits
- $15,393,000
- Estimated cost to the FDIC
- $6,411,892 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 16573
Other bank failures in Iowa, 1983 to 1987
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Climbing Hill Savings Bank | Climbing Hill | December 3, 1987 | $5.4 million | $5.3 million | $646,363 | First TRUST&SAVINGS Bank |
| Farmers State Bank | Kanawha | July 30, 1987 | $15.9 million | $15.3 million | $2.4 million | First NB of Clarion |
| Osceola State Bank & Trust Company | Osceola | April 23, 1987 | $8.6 million | $7.7 million | $1.6 million | American State Bank |
| The First State Bank | Rockford | March 4, 1987 | $15.8 million | $15.2 million | $1.4 million | First Security BANK&TRUS |
| State Bank of Allison | Allison | February 5, 1987 | $17.4 million | $17 million | $1.5 million | Lincoln Savings Bank |
| Latimer Bank & Trust | Latimer | January 15, 1987 | $23.2 million | $22 million | $3.2 million | First NB of Clarion |
| Graettinger State Bank | Graettinger | August 7, 1986 | $11.8 million | $11.5 million | $710,929 | Swea City State Bank |
| Citizens State Bank | Iowa Falls | July 31, 1986 | $54 million | $53.5 million | $4.8 million | Green Belt BANK&TRUST |
All bank failures in 1985 · 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.