Data / Bank failures / 1987 / First State Bank of King City, Missouri
First State Bank of King City, Missouri, King City, MO: failed February 13, 1987
First State Bank of King City, Missouri in King City, Missouri, failed on February 13, 1987. Citizens BANK&TRUST Co of Chillicothe, MO, took over its deposits. It held $14.5 million in assets and $14.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $5.5 million (38% of its assets). By assets it was the 182nd largest of 262 banks closed or assisted in 1987.
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The FDIC's record
- Closed
- February 13, 1987
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Citizens BANK&TRUST Co, Chillicothe, MO
- Total assets
- $14,457,000
- Total deposits
- $14,503,000
- Estimated cost to the FDIC
- $5,492,186 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 14742
Other bank failures in Missouri, 1985 to 1989
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| 102 Valley Bank | Hopkins | July 5, 1989 | $5 million | $5 million | $1.7 million | The Nodaway Valley Bank |
| Mid Missouri S & L Assoc. | Boonville | June 29, 1989 | $76.7 million | $67.6 million | $16.6 million | United S&LA |
| Missouri Savings Association | Clayton | June 29, 1989 | $661.1 million | $500.7 million | $48.8 million | Mercantile Bank of ST. Loui |
| Financial Federal Sa | Joplin | April 6, 1989 | $161.4 million | $173.1 million | $44.8 million | Farm & Home Sa |
| Cass FS & La of ST. Louis | Florissant | April 6, 1989 | $52.4 million | $65.8 million | $12.6 million | First Exchange Bank |
| First Fed. S & L of Southeast Mo. | Cape Girardeau | April 6, 1989 | $385.1 million | $332.1 million | $33.4 million | Cape Cty Bank of Cape Girar |
| Blue Valley FS & La | Kansas City | February 17, 1989 | $839.2 million | $820.2 million | $233.1 million | United Missouri City Bank |
| Lakeland State Bank | Camden County | September 1, 1988 | $9.3 million | $9.2 million | $546,346 | Community Bank of the Oz |
Other failed banks Citizens BANK&TRUST Co took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Peoples Bank & Trust Co. | Wartburg | TN | February 8, 1985 | $24.4 million | $23.1 million | $6.3 million | Citizens BANK&TRUST Co |
All bank failures in 1987 · All bank failures in Missouri · Every failed bank Citizens BANK&TRUST Co 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.