Data / Bank failures / 1987 / Osceola State Bank & Trust Company
Osceola State Bank & Trust Company, Osceola, IA: failed April 23, 1987
Osceola State Bank & Trust Company in Osceola, Iowa, failed on April 23, 1987. American State Bank of Osceola, IA, took over its deposits. It held $8.6 million in assets and $7.7 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $1.6 million (18.4% of its assets). By assets it was the 229th largest of 262 banks closed or assisted in 1987.
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The FDIC's record
- Closed
- April 23, 1987
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- American State Bank, Osceola, IA
- Total assets
- $8,590,000
- Total deposits
- $7,693,000
- Estimated cost to the FDIC
- $1,583,277 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 20304
Other bank failures in Iowa, 1985 to 1989
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Banc Iowa Federal Savings Bank | Cedar Rapids | October 16, 1989 | $161.9 million | $140.2 million | $21.9 million | |
| Sioux Valley S & La | Cherokee | April 6, 1989 | $61.8 million | $90.8 million | $41.9 million | |
| First FS & La of Estherville | Estherville | April 6, 1989 | $60.6 million | $58.9 million | $9.7 million | |
| 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 |
Other failed banks American State Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Medical Center State Bank | Oklahoma City | OK | October 27, 1988 | $8.7 million | $8.6 million | $2.1 million | American State Bank |
All bank failures in 1987 · All bank failures in Iowa · Every failed bank American State 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.