Data / Bank failures / 1983 / State Bank of Barnum
State Bank of Barnum, Barnum, MN: failed February 9, 1983
State Bank of Barnum in Barnum, Minnesota, failed on February 9, 1983. It held $13.9 million in assets and $13.1 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $1.7 million (12.3% of its assets). By assets it was the 87th largest of 99 banks closed or assisted in 1983.
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The FDIC's record
- Closed
- February 9, 1983
- Type
- Failure
- How it was resolved
- Payout: the FDIC paid insured depositors directly
- Total assets
- $13,873,000
- Total deposits
- $13,056,000
- Estimated cost to the FDIC
- $1,705,347 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 15748
Other bank failures in Minnesota, 1981 to 1985
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| State Bank of Frost | Frost | December 20, 1985 | $7.7 million | $6.6 million | $2 million | Frost State Bank |
| Midland FS&LA (assistance) | Moorhead | December 2, 1985 | $38 million | $40.9 million | $48.9 million | Midland FS&LA |
| Farmers State Bank of Kanaranzi | Kanaranzi | October 18, 1985 | $3.9 million | $3.8 million | $997,195 | Citizens STB of Silver L |
| Farmers State Bank of Round Lake | Round Lake | August 2, 1985 | $23.2 million | $20.9 million | $7.5 million | Farmers STB of Mountain |
| Swift County Bank | Benson | June 14, 1985 | $41.6 million | $38 million | $8.4 million | First Security STB Sleep |
| First Trust Bank of Lakefield | Lakefield | May 31, 1985 | $24.3 million | $22.1 million | $9.4 million | Fulda State Bank |
| Citizens State Bank of Fulda | Fulda | February 15, 1985 | $39.4 million | $36.4 million | $12.8 million | Fulda State Bank |
| State Bank of Boyd | Boyd | October 24, 1984 | $7.1 million | $6.2 million | $2.8 million | State Bank of Madison |
All bank failures in 1983 · All bank failures in Minnesota · 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.