Data / Bank failures / 1987 / Security State Bank
Security State Bank, Oxford, NE: failed October 1, 1987
Security State Bank in Oxford, Nebraska, failed on October 1, 1987. Union BANK&TRUST Co of Lincoln, NE, took over its deposits. It held $12.2 million in assets and $11.7 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $1.8 million (14.5% of its assets). By assets it was the 199th largest of 262 banks closed or assisted in 1987.
SpecStream is the live web data engine for teams and agents. It reads the FDIC failed bank data every morning, and this page is that reading. Ask for the banks you follow and each new closure arrives in your sheet, CRM, Slack or agent as the FDIC announces it.
The FDIC's record
- Closed
- October 1, 1987
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Union BANK&TRUST Co, Lincoln, NE
- Total assets
- $12,195,000
- Total deposits
- $11,674,000
- Estimated cost to the FDIC
- $1,766,594 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 8605
Other bank failures in Nebraska, 1985 to 1989
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| The Farmers State Bank | Lyman | September 23, 1989 | $5.7 million | $5.6 million | $1 million | First National Bank in Morr |
| Nile Valley Federal S & L Assoc. | Scottsbluff | February 17, 1989 | $56.3 million | $64.1 million | $38.9 million | First NB&TC of North Platte |
| Occidental/nebraska FSB | Omaha | February 17, 1989 | $677.3 million | $529.9 million | $155.7 million | Firstier Bank, NA, Omaha |
| Equitable Federal Savings Bank | Fremont | February 17, 1989 | $225.2 million | $205.4 million | $28.6 million | Firstier Bank, NA, Omaha |
| Platte Valley FS & La | Gering | February 17, 1989 | $316.8 million | $320.8 million | $181.1 million | First NB&TC of North Platte |
| Midwest Fed. S & L Assoc. | Nebraska City | February 17, 1989 | $139.1 million | $119.7 million | $32 million | American NB |
| Platte Valley FS&LA | Gering | July 21, 1988 | $407.6 million | $400.1 million | ||
| Frenchman Valley Bank | Palisade | March 10, 1988 | $2.8 million | $2.7 million | $601,833 |
Other failed banks Union BANK&TRUST Co took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Union Bank & Trust Company | Oklahoma City | OK | March 31, 1988 | $182.5 million | $181.8 million | $11.1 million | Union BANK&TRUST Co |
| Farmers State Bank | Rising City | NE | August 2, 1985 | $12.8 million | $11.9 million | $319,709 | Union BANK&TRUST Co |
| Bank of Taylor | Taylor | NE | May 31, 1985 | $14.5 million | $13.4 million | $1.7 million | Union BANK&TRUST Co |
All bank failures in 1987 · All bank failures in Nebraska · Every failed bank Union 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.