Data / Bank failures / 1991 / First FS & La of Thief River Falls
First FS & La of Thief River Falls, Thief River Falls, MN: failed August 9, 1991
First FS & La of Thief River Falls in Thief River Falls, Minnesota, failed on August 9, 1991. No. State BK of Thief Riv. of Thief River Fall, MN, took over its deposits. It held $54.6 million in assets and $55.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $2.6 million (4.8% of its assets). By assets it was the 164th largest of 271 banks closed or assisted in 1991.
SpecStream is the live web data engine for teams and agents. It reads the FDIC failed bank data every morning, and this page is that reading. Ask for the banks you follow and each new closure arrives in your sheet, CRM, Slack or agent as the FDIC announces it.
The FDIC's record
- Closed
- August 9, 1991
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- No. State BK of Thief Riv., Thief River Fall, MN
- Total assets
- $54,605,000
- Total deposits
- $55,516,000
- Estimated cost to the FDIC
- $2,620,005 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 29041
Other bank failures in Minnesota, 1989 to 1993
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| State Bank of Springfield | Springfield | July 17, 1992 | $30.3 million | $28.5 million | $127,067 | Southwest State Bank |
| Boundary Waters State Bank | Ely | November 30, 1990 | $13.4 million | $13.4 million | $1.5 million | Stearns County National Ban |
| United Savings Bank, FSB | Windom | May 11, 1990 | $161.5 million | $133.2 million | $43.8 million | |
| Lakeland Savings Bank FSB | Detroit Lakes | March 16, 1990 | $79.6 million | $80.6 million | $24.8 million | First Security State Bank |
| Fairmont Federal Savings Assoc. | Fairmont | February 9, 1990 | $46 million | $46.4 million | $1.3 million | First Farmers & Merchant NB |
| The Lee State Bank | Browerville | November 9, 1989 | $13.4 million | $13.5 million | $2.7 million | First National Bank of Long |
| Midwest Federal Savings | Minneapolis | February 13, 1989 | $3.26 billion | $2.24 billion | $754.8 million |
All bank failures in 1991 · All bank failures in Minnesota · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-24. 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.