Data / Bank failures / 1988 / Marshall County Bank
Marshall County Bank, Britton, SD: failed August 19, 1988
Marshall County Bank in Britton, South Dakota, failed on August 19, 1988. First National Bank of Beresford, SD, took over its deposits. It held $10.7 million in assets and $9.4 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $229,170 (2.1% of its assets). By assets it was the 431st largest of 470 banks closed or assisted in 1988.
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The FDIC's record
- Closed
- August 19, 1988
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- First National Bank, Beresford, SD
- Total assets
- $10,737,000
- Total deposits
- $9,411,000
- Estimated cost to the FDIC
- $229,170 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 497
Other bank failures in South Dakota, 1986 to 1990
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| United FS&LA (assistance) | Aberdeen | December 1, 1988 | $92.5 million | $92 million | $8 million | Home FS&LA of Sioux Falls |
| The American State Bank (assistance) | Yankton | May 18, 1988 | $62.1 million | $59 million | $265,335 | First Dakota National Bank |
| First City - Sioux Falls N.A. (assistance) | Sioux Falls | April 20, 1988 | $597.7 million | $227.7 million | First City - Sioux Falls N. | |
| Tri-State National Bank | Belle Fourche | November 10, 1987 | $10.7 million | $10.7 million | $1.8 million | First Western Bank Sturg |
| First State Bank of Sisseton | Sisseton | May 7, 1987 | $20.1 million | $19.4 million | $4.5 million | FARMERS&MERCHANTS B&T Co |
| Stockholm State Bank | Stockholm | March 27, 1986 | $7.2 million | $6.6 million | $991,473 | Community STB of Stockho |
Other failed banks First National Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| The First State Bank of Regent | Regent | ND | February 22, 1990 | $9.7 million | $9.5 million | $2.9 million | First National Bank |
| Alliance Bank, N.A. (assistance) | Oklahoma City | OK | November 16, 1988 | $8.9 million | $11.9 million | $4.1 million | First National Bank |
| Biwabik State Bank | Biwabik | MN | August 26, 1988 | $3.2 million | $3.2 million | $450,634 | First National Bank |
| Unity Bank | Dayton | OH | April 22, 1988 | $7.1 million | $6.7 million | $1.9 million | First National Bank |
| The Talmage State Bank | Talmage | KS | September 17, 1987 | $6.7 million | $6.7 million | $1.3 million | First National Bank |
All bank failures in 1988 · All bank failures in South Dakota · Every failed bank First National 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.