# LANESBORO STATE BANK

> **Failed bank** · LANESBORO, MN · failed 1987-06-26 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $2M

## What happened

LANESBORO STATE BANK of LANESBORO, MN was closed by regulators on **1987-06-26**. The FDIC was named receiver.

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

Deposits were transferred to **GOODHUE CNTY NB OF RED W** (RED WING, MN). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1459
- **FDIC Certificate:** 12190
- **FDIC FIN:** 2704
- **Bank name:** LANESBORO STATE BANK
- **Location:** LANESBORO, MN
- **Failure date:** 1987-06-26
- **FDIC resolution date:** 1987-06-26
- **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:** $2M
- **Deposits at failure:** $11M
- **Assets at failure:** $11M
- **Acquiring bank:** GOODHUE CNTY NB OF RED W (RED WING, MN)

## Other banks GOODHUE CNTY NB OF RED W has acquired in FDIC resolutions

- THE FIRST NAT BK OF RUSHFORD (RUSHFORD, MN) — failed 1984-05-04 — /failed-bank/870

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, LANESBORO STATE BANK (FDIC ID 1459), failed 1987-06-26. Retrieved via AI Analytics 2026-07-08 from https://api.ai-analytics.org/failed-bank/1459.

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