Data / Bank failures / 1990 / Midwest Federal Savings Bank
Midwest Federal Savings Bank, Minot, ND: failed January 4, 1990
Midwest Federal Savings Bank in Minot, North Dakota, failed on January 4, 1990. It held $955 million in assets and $577.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $93.6 million (9.8% of its assets). By assets it was the 32nd largest of 382 banks closed or assisted in 1990.
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The FDIC's record
- Closed
- January 4, 1990
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- None, NA
- Total assets
- $954,990,000
- Total deposits
- $577,794,000
- Estimated cost to the FDIC
- $93,564,561 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- RTC
- FDIC certificate
- 27920
Other bank failures in North Dakota, 1988 to 1992
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| First FS & La of Fargo | Fargo | May 10, 1991 | $50 million | $51.2 million | $3 million | First NB of ND |
| 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 |
| 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 |
| Williston Basin State Bank | Williston | January 21, 1988 | $14 million | $13.6 million | $4.4 million | First NB&T Co of Willist |
All bank failures in 1990 · 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.