Data / Bank failures / 1984 / The First Nat BK of Rushford
The First Nat BK of Rushford, Rushford, MN: failed May 4, 1984
The First Nat BK of Rushford in Rushford, Minnesota, failed on May 4, 1984. Goodhue Cnty NB of Red W of Red Wing, MN, took over its deposits. It held $22 million in assets and $21.4 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $7.3 million (33.2% of its assets). By assets it was the 60th largest of 106 banks closed or assisted in 1984.
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The FDIC's record
- Closed
- May 4, 1984
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Goodhue Cnty NB of Red W, Red Wing, MN
- Total assets
- $21,991,000
- Total deposits
- $21,360,000
- Estimated cost to the FDIC
- $7,300,775 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- FDIC
- FDIC certificate
- 5239
Other bank failures in Minnesota, 1982 to 1986
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Lakeland State Bank | Pequot Lakes | December 19, 1986 | $49.4 million | $49.1 million | $7 million | Northern NB of Bemidji |
| First National Bank of Stewartville | Stewartville | December 4, 1986 | $18.5 million | $18.3 million | $979,775 | Marquette Bank Rochester |
| Chokio State Bank | Chokio | November 7, 1986 | $11.9 million | $11 million | $4.9 million | First State Bank Chokio |
| Farmers State Bank of Clarissa | Clarissa | July 11, 1986 | $17.9 million | $16.8 million | $7.3 million | First STB of Rush City |
| Farmers & Merchants ST BK of Lamberton | Lamberton | March 14, 1986 | $17.1 million | $16.2 million | $3.6 million | American Bank Mankato |
| State Bank of Frost | Frost | December 20, 1985 | $7.7 million | $6.6 million | $2 million | Frost State Bank |
| Midland FS&LA (assistance) | Moorhead | December 2, 1985 | $38 million | $40.9 million | $48.9 million | Midland FS&LA |
| Farmers State Bank of Kanaranzi | Kanaranzi | October 18, 1985 | $3.9 million | $3.8 million | $997,195 | Citizens STB of Silver L |
Other failed banks Goodhue Cnty NB of Red W took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Lanesboro State Bank | Lanesboro | MN | June 26, 1987 | $11.4 million | $11 million | $2.3 million | Goodhue Cnty NB of Red W |
All bank failures in 1984 · All bank failures in Minnesota · Every failed bank Goodhue Cnty NB of Red W took over · 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.