Data / Bank failures / 1988 / First City - Sioux Falls N.A.
First City - Sioux Falls N.A., Sioux Falls, SD: received FDIC assistance April 20, 1988
First City - Sioux Falls N.A. in Sioux Falls, South Dakota, received open bank assistance from the FDIC on April 20, 1988. It held $597.7 million in assets and $227.7 million in deposits at its last report. By assets it was the 39th largest of 470 banks closed or assisted in 1988.
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The FDIC's record
- Closed
- April 20, 1988
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- First City - Sioux Falls N., Sioux Falls, SD
- Total assets
- $597,688,000
- Total deposits
- $227,736,000
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- FDIC
- FDIC certificate
- 26339
Other bank failures in South Dakota, 1986 to 1990
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| United FS&LA (assistance) | Aberdeen | December 1, 1988 | $92.5 million | $92 million | $8 million | Home FS&LA of Sioux Falls |
| Marshall County Bank | Britton | August 19, 1988 | $10.7 million | $9.4 million | $229,170 | First National Bank |
| The American State Bank (assistance) | Yankton | May 18, 1988 | $62.1 million | $59 million | $265,335 | First Dakota National Bank |
| Tri-State National Bank | Belle Fourche | November 10, 1987 | $10.7 million | $10.7 million | $1.8 million | First Western Bank Sturg |
| First State Bank of Sisseton | Sisseton | May 7, 1987 | $20.1 million | $19.4 million | $4.5 million | FARMERS&MERCHANTS B&T Co |
| Stockholm State Bank | Stockholm | March 27, 1986 | $7.2 million | $6.6 million | $991,473 | Community STB of Stockho |
All bank failures in 1988 · All bank failures in South Dakota · 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.