Data / Bank failures / 1983 / The Deschutes Bank
The Deschutes Bank, Redmond, OR: failed October 7, 1983
The Deschutes Bank in Redmond, Oregon, failed on October 7, 1983. United States NB of Oreg of Portland, OR, took over its deposits. It held $10.2 million in assets and $10 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $4.3 million (41.6% of its assets). By assets it was the 94th largest of 99 banks closed or assisted in 1983.
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The FDIC's record
- Closed
- October 7, 1983
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- United States NB of Oreg, Portland, OR
- Total assets
- $10,207,000
- Total deposits
- $10,021,000
- Estimated cost to the FDIC
- $4,250,810 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 22807
Other bank failures in Oregon, 1981 to 1985
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| State FS&LA | Corvallis | December 6, 1985 | $563.9 million | $443.9 million | $249 million | Washington FS&LA |
| Citizens S&LA | Salem | December 4, 1985 | $239.7 million | $153.5 million | $85.2 million | Freedom FS&LA |
| Western Heritage FS&LA (assistance) | Pendleton | August 1, 1985 | $175.1 million | $134 million | $8.8 million | Benj Franklin FS&LA |
| Bank of Oregon (assistance) | Woodburn | May 31, 1985 | $117.1 million | $97 million | $18.8 million | Bank of Oregon |
| First State Bank of Elgin | Elgin | April 12, 1985 | $18.2 million | $15.8 million | $4.9 million | United States NB of Oreg |
| Coast Community Bank | Harbor | January 11, 1985 | $9.1 million | $8.5 million | $1.4 million | Security Bank of Coos Co |
| First American Banking Company | Pendleton | November 16, 1984 | $18.6 million | $15.3 million | $2.2 million | Inland Empire Bank |
| Bank of the Northwest | Eugene | August 31, 1984 | $21.8 million | $19.8 million | $1.2 million | First Interstate BK of O |
Other failed banks United States NB of Oreg took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| First State Bank of Elgin | Elgin | OR | April 12, 1985 | $18.2 million | $15.8 million | $4.9 million | United States NB of Oreg |
| United Bank of Oregon | Milwaukie | OR | March 2, 1984 | $17.3 million | $16.1 million | $3.1 million | United States NB of Oreg |
All bank failures in 1983 · All bank failures in Oregon · Every failed bank United States NB of Oreg 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.