# LAKELAND STATE BANK

> **Failed bank** · PEQUOT LAKES, MN · failed 1986-12-19 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $7M

## What happened

LAKELAND STATE BANK of PEQUOT LAKES, MN was closed by regulators on **1986-12-19**. The FDIC was named receiver.

**Resolution:** Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to **NORTHERN NB OF BEMIDJI** (BEMIDJI, MN). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1327
- **FDIC Certificate:** 1407
- **FDIC FIN:** 2626
- **Bank name:** LAKELAND STATE BANK
- **Location:** PEQUOT LAKES, MN
- **Failure date:** 1986-12-19
- **FDIC resolution date:** 1986-12-19
- **Charter type:** State commercial bank, non-Federal Reserve member (FDIC-supervised)
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $7M
- **Deposits at failure:** $49M
- **Assets at failure:** $49M
- **Acquiring bank:** NORTHERN NB OF BEMIDJI (BEMIDJI, MN)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=LAKELAND%20STATE%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, LAKELAND STATE BANK (FDIC ID 1327), failed 1986-12-19. Retrieved via AI Analytics 2026-07-07 from https://api.ai-analytics.org/failed-bank/1327.

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