Data / Bank failures / 1987 / The Citizens State Bank
The Citizens State Bank, Brownstown, IN: failed April 10, 1987
The Citizens State Bank in Brownstown, Indiana, failed on April 10, 1987. Monroe County Bank of Bloomington, IN, took over its deposits. It held $29 million in assets and $27.7 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $1.3 million (4.5% of its assets). By assets it was the 115th largest of 262 banks closed or assisted in 1987.
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The FDIC's record
- Closed
- April 10, 1987
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- Monroe County Bank, Bloomington, IN
- Total assets
- $29,049,000
- Total deposits
- $27,725,000
- Estimated cost to the FDIC
- $1,315,615 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 10094
Other bank failures in Indiana, 1985 to 1989
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| First Federal S & L /central Indiana | Anderson | November 16, 1989 | $192.4 million | $176.7 million | $15.1 million | Shelby FSB |
| Pioneer Savings FA | Plymouth | July 13, 1989 | $81 million | $92.3 million | $1.2 million | Ameritrust NB |
| Capital FS&LA (assistance) | Gary | October 12, 1988 | $51.4 million | $55.7 million | $6.5 million | First FSB of Indiana |
| First FSB of Indiana (assistance) | Merrillville | October 12, 1988 | $271.5 million | $287 million | $22.5 million | First FSB of Indiana |
| Liberty Bank & Trust Company | Warsaw | October 3, 1988 | $48.7 million | $45.8 million | $7.8 million | Trustcorp Bank Goshen |
| Citizens FS&LA of New Castle (assistance) | New Castle | September 30, 1988 | $51.9 million | $57 million | $5.3 million | Ameriana Savings Bank FSB |
| United Sa of Central Indiana (assistance) | Tipton | September 1, 1988 | $57.3 million | $65.1 million | $6.9 million | First Federal Bank A FSB |
| Frankton FS&LA (assistance) | Frankton | September 1, 1988 | $30.6 million | $33.1 million | $3 million | Union FSB of Frankton |
All bank failures in 1987 · All bank failures in Indiana · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-24. 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.