Data / Bank failures / 1989 / The Farmers State Bank
The Farmers State Bank, Lyman, NE: failed September 23, 1989
The Farmers State Bank in Lyman, Nebraska, failed on September 23, 1989. First National Bank in Morr of Morrill, NE, took over its deposits. It held $5.7 million in assets and $5.6 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $1 million (17.7% of its assets). By assets it was the 526th largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- September 23, 1989
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First National Bank in Morr, Morrill, NE
- Total assets
- $5,677,000
- Total deposits
- $5,570,000
- Estimated cost to the FDIC
- $1,005,462 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- BIF
- FDIC certificate
- 16342
Other bank failures in Nebraska, 1987 to 1991
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Equitable S & La, FA | Columbus | February 16, 1990 | $73.2 million | $63.7 million | $3.9 million | Conservative SB, FSB |
| Heritage FSB | Omaha | February 16, 1990 | $225 million | $175.7 million | $16.5 million | |
| First Fed. Savings Assoc. of York | York | January 18, 1990 | $59.7 million | $54.9 million | $2.8 million | First Trust Company of York |
| Nile Valley Federal S & L Assoc. | Scottsbluff | February 17, 1989 | $56.3 million | $64.1 million | $38.9 million | First NB&TC of North Platte |
| Occidental/nebraska FSB | Omaha | February 17, 1989 | $677.3 million | $529.9 million | $155.7 million | Firstier Bank, NA, Omaha |
| Equitable Federal Savings Bank | Fremont | February 17, 1989 | $225.2 million | $205.4 million | $28.6 million | Firstier Bank, NA, Omaha |
| Platte Valley FS & La | Gering | February 17, 1989 | $316.8 million | $320.8 million | $181.1 million | First NB&TC of North Platte |
| Midwest Fed. S & L Assoc. | Nebraska City | February 17, 1989 | $139.1 million | $119.7 million | $32 million | American NB |
All bank failures in 1989 · All bank failures in Nebraska · 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.