Data / Bank failures / 1986 / The Bedford National Bank
The Bedford National Bank, Bedford, IA: failed May 1, 1986
The Bedford National Bank in Bedford, Iowa, failed on May 1, 1986. American National Bank of Bedford, IA, took over its deposits. It held $19.3 million in assets and $18.4 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $4.6 million (24.1% of its assets). By assets it was the 137th largest of 204 banks closed or assisted in 1986.
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The FDIC's record
- Closed
- May 1, 1986
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- American National Bank, Bedford, IA
- Total assets
- $19,323,000
- Total deposits
- $18,365,000
- Estimated cost to the FDIC
- $4,647,643 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- FDIC
- FDIC certificate
- 4426
Other bank failures in Iowa, 1984 to 1988
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| 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 |
| Mingo Trust & Savings Bank | Mingo | September 1, 1988 | $12.1 million | $11.4 million | $775,307 | Exchange State Bank |
| Pioneer FS&LA in Mason City (assistance) | Mason City | August 26, 1988 | $314 million | $310 million | $141.2 million | Pioneer FS&LA |
| Western FS&LA (assistance) | Council Bluffs | August 11, 1988 | $23.9 million | $39.1 million | $11.7 million | First FS&LA of Lincoln-Iowa |
Other failed banks American National Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Bank of Wilson | Wilson | OK | July 26, 1990 | $13 million | $13 million | $1.8 million | American National Bank |
| The Security State Bank | Comanche | OK | September 22, 1988 | $9 million | $8.9 million | $1.6 million | American National Bank |
| American National Bank (assistance) | Parma | OH | February 12, 1988 | $27.8 million | $25.4 million | American National Bank | |
| The First National Bank of Hammon | Hammon | OK | September 3, 1987 | $6.3 million | $5.8 million | $1.6 million | American National Bank |
All bank failures in 1986 · All bank failures in Iowa · Every failed bank American 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.