Data / Bank failures / 1989 / The Dakota Bank
The Dakota Bank, Grand Forks, ND: failed August 24, 1989
The Dakota Bank in Grand Forks, North Dakota, failed on August 24, 1989. First National Bank South of Grand Forks, ND, took over its deposits. It held $31.2 million in assets and $28.6 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $2.9 million (9.2% of its assets). By assets it was the 388th largest of 534 banks closed or assisted in 1989.
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
- August 24, 1989
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- First National Bank South, Grand Forks, ND
- Total assets
- $31,174,000
- Total deposits
- $28,647,000
- Estimated cost to the FDIC
- $2,861,302 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- BIF
- FDIC certificate
- 22967
Other bank failures in North Dakota, 1987 to 1991
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| First FS & La of Fargo | Fargo | May 10, 1991 | $50 million | $51.2 million | $3 million | First NB of ND |
| The Farmers and Merchants Bank of Sheyenne | Sheyenne | October 26, 1990 | $2.9 million | $2.9 million | $825,847 | The Ramsey National Bank An |
| First National Bank of Crosby | Crosby | September 13, 1990 | $12.4 million | $12.3 million | $76,806 | First National Bank & Trust |
| The First State Bank of Regent | Regent | February 22, 1990 | $9.7 million | $9.5 million | $2.9 million | First National Bank |
| First Savings Assoc. | Bismark | January 26, 1990 | $113.4 million | $100.5 million | $16.7 million | Metropolitan FB, FSB |
| Midwest Federal Savings Bank | Minot | January 4, 1990 | $955 million | $577.8 million | $93.6 million | |
| Central Dakota Bank | Lehr | December 1, 1989 | $13.9 million | $13.7 million | $2.7 million | Security State Bank, Wishek |
| Williston Basin State Bank | Williston | January 21, 1988 | $14 million | $13.6 million | $4.4 million | First NB&T Co of Willist |
All bank failures in 1989 · All bank failures in North Dakota · 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.