Data / Bank failures / 1991 / First FS & La of Fargo
First FS & La of Fargo, Fargo, ND: failed May 10, 1991
First FS & La of Fargo in Fargo, North Dakota, failed on May 10, 1991. First NB of ND of Grand Forks, ND, took over its deposits. It held $50 million in assets and $51.2 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $3 million (6.1% of its assets). By assets it was the 170th largest of 271 banks closed or assisted in 1991.
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The FDIC's record
- Closed
- May 10, 1991
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First NB of ND, Grand Forks, ND
- Total assets
- $50,013,000
- Total deposits
- $51,170,000
- Estimated cost to the FDIC
- $3,040,121 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 28265
Other bank failures in North Dakota, 1989 to 1993
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| The Farmers and Merchants Bank of Sheyenne | Sheyenne | October 26, 1990 | $2.9 million | $2.9 million | $825,847 | The Ramsey National Bank An |
| First National Bank of Crosby | Crosby | September 13, 1990 | $12.4 million | $12.3 million | $76,806 | First National Bank & Trust |
| The First State Bank of Regent | Regent | February 22, 1990 | $9.7 million | $9.5 million | $2.9 million | First National Bank |
| First Savings Assoc. | Bismark | January 26, 1990 | $113.4 million | $100.5 million | $16.7 million | Metropolitan FB, FSB |
| Midwest Federal Savings Bank | Minot | January 4, 1990 | $955 million | $577.8 million | $93.6 million | |
| Central Dakota Bank | Lehr | December 1, 1989 | $13.9 million | $13.7 million | $2.7 million | Security State Bank, Wishek |
| The Dakota Bank | Grand Forks | August 24, 1989 | $31.2 million | $28.6 million | $2.9 million | First National Bank South |
All bank failures in 1991 · All bank failures in North 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.