Data / Bank failures / 1986 / First National Bank of Tipton
First National Bank of Tipton, Tipton, IA: failed February 14, 1986
First National Bank of Tipton in Tipton, Iowa, failed on February 14, 1986. Citizens Savings Bank of Anamosa, IA, took over its deposits. It held $17.9 million in assets and $18 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $664,646 (3.7% of its assets). By assets it was the 143rd largest of 204 banks closed or assisted in 1986.
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The FDIC's record
- Closed
- February 14, 1986
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Citizens Savings Bank, Anamosa, IA
- Total assets
- $17,896,000
- Total deposits
- $18,008,000
- Estimated cost to the FDIC
- $664,646 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- FDIC
- FDIC certificate
- 16740
Other bank failures in Iowa, 1984 to 1988
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Home FS&LA (assistance) | Spencer | December 30, 1988 | $46.5 million | $51.6 million | $9 million | Northwest FSB |
| Northwest FS&LA (assistance) | Spencer | December 30, 1988 | $129.1 million | $144.6 million | $66.5 million | Northwest FSB |
| First Financial SB (assistance) | Des Moines | December 28, 1988 | $262.7 million | $211.4 million | $85.7 million | Metropolitan Federal Bank O |
| Midamerica SB (assistance) | Waterloo | December 12, 1988 | $244.3 million | $232.3 million | $14 million | Midamerica Savings Bank |
| Pisgah Savings Bank | Pisgah | September 1, 1988 | $9.7 million | $9.3 million | $3 million | Iowa Savings Bank |
| Mingo Trust & Savings Bank | Mingo | September 1, 1988 | $12.1 million | $11.4 million | $775,307 | Exchange State Bank |
| Pioneer FS&LA in Mason City (assistance) | Mason City | August 26, 1988 | $314 million | $310 million | $141.2 million | Pioneer FS&LA |
| Western FS&LA (assistance) | Council Bluffs | August 11, 1988 | $23.9 million | $39.1 million | $11.7 million | First FS&LA of Lincoln-Iowa |
Other failed banks Citizens Savings Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| New England Savings Bank | New London | CT | May 21, 1993 | $914.9 million | $720.5 million | $117 million | Citizens Savings Bank |
| Commercial State Bank | Afton | IA | March 8, 1985 | $16.3 million | $15.6 million | $3 million | Citizens Savings Bank |
All bank failures in 1986 · All bank failures in Iowa · Every failed bank Citizens Savings Bank 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.