Data / Bank failures / 1987 / First FS&LA of Beloit
First FS&LA of Beloit, Beloit, KS: failed February 27, 1987
First FS&LA of Beloit in Beloit, Kansas, failed on February 27, 1987. It held $82.9 million in assets and $89.7 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $22.4 million (27% of its assets). By assets it was the 60th largest of 262 banks closed or assisted in 1987.
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The FDIC's record
- Closed
- February 27, 1987
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Total assets
- $82,910,000
- Total deposits
- $89,654,000
- Estimated cost to the FDIC
- $22,385,400 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 28129
Other bank failures in Kansas, 1985 to 1989
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| The Garnett S & L Assoc. | Garnett | December 7, 1989 | $13.6 million | $14.5 million | $794,302 | Farmers State Bank |
| Mid Kansas S & La Assoc. | Wichita | October 19, 1989 | $761.9 million | $595.6 million | $72.8 million | |
| The Burr Oak State Bank | Burr Oak | August 31, 1989 | $4.4 million | $4.1 million | $457,197 | First National Bank in Mank |
| Peoples Heritage FS & La | Salina | August 10, 1989 | $1.81 billion | $1.47 billion | $707 million | |
| Barnard State Bank | Barnard | August 3, 1989 | $5 million | $5.1 million | $976,267 | Saline Valley Bank |
| First National Bank at Oswego | Oswego | May 18, 1989 | $24 million | $23.3 million | $1.9 million | Parsons Commercial Bank |
| First of Kansas Savings | Hays | April 6, 1989 | $53.9 million | $46.2 million | $6 million | First NB&T |
| The Farmers State Bank, Bogue | Bogue | March 16, 1989 | $8 million | $8 million | $1.7 million | Farmers & Merchants Bank of |
All bank failures in 1987 · All bank failures in Kansas · 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.