Data / Bank failures / 1985 / Farmers State Bank of Round Lake
Farmers State Bank of Round Lake, Round Lake, MN: failed August 2, 1985
Farmers State Bank of Round Lake in Round Lake, Minnesota, failed on August 2, 1985. Farmers STB of Mountain of Mountain Lake, MN, took over its deposits. It held $23.2 million in assets and $20.9 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $7.5 million (32.1% of its assets). By assets it was the 106th largest of 180 banks closed or assisted in 1985.
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The FDIC's record
- Closed
- August 2, 1985
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Farmers STB of Mountain, Mountain Lake, MN
- Total assets
- $23,210,000
- Total deposits
- $20,903,000
- Estimated cost to the FDIC
- $7,461,646 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 10970
Other bank failures in Minnesota, 1983 to 1987
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| State Bank of Greenwald | Greenwald | October 2, 1987 | $23.3 million | $19.9 million | $4.3 million | Rural American BK Greenw |
| Clay County State Bank | Dilworth | October 1, 1987 | $10.1 million | $9.9 million | $1.1 million | Northwestern STB of Ulen |
| First State Bank of Rollingstone | Rollingstone | September 11, 1987 | $15.2 million | $14.4 million | $3 million | Eastwood Bank ST Charles |
| People's State Bank of Mazeppa | Mazeppa | August 21, 1987 | $21.6 million | $20.2 million | $4.9 million | First State Bank of Red |
| Lanesboro State Bank | Lanesboro | June 26, 1987 | $11.4 million | $11 million | $2.3 million | Goodhue Cnty NB of Red W |
| First National Bank of Wilmont | Wilmont | May 29, 1987 | $13.3 million | $11.8 million | $2 million | Farmers STB of Mountain |
| Todd County State Bank | Long Prairie | May 14, 1987 | $15.4 million | $15.2 million | $2.4 million | First NB of Long Prairie |
| The First National Bank of Elbow Lake | Elbow Lake | May 14, 1987 | $14.2 million | $15.7 million | $7.7 million | First NB of Fergus Falls |
Other failed banks Farmers STB of Mountain took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| First National Bank of Wilmont | Wilmont | MN | May 29, 1987 | $13.3 million | $11.8 million | $2 million | Farmers STB of Mountain |
All bank failures in 1985 · All bank failures in Minnesota · Every failed bank Farmers STB of Mountain 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.