# FARMERS STATE BANK

> **Failed bank** · KANAWHA, IA · failed 1987-07-30 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $2M

## What happened

FARMERS STATE BANK of KANAWHA, IA was closed by regulators on **1987-07-30**. The FDIC was named receiver.

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

Deposits were transferred to **FIRST NB OF CLARION** (CLARION, IA). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1485
- **FDIC Certificate:** 13152
- **FDIC FIN:** 2714
- **Bank name:** FARMERS STATE BANK
- **Location:** KANAWHA, IA
- **Failure date:** 1987-07-30
- **FDIC resolution date:** 1987-07-30
- **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:** $15M
- **Assets at failure:** $16M
- **Acquiring bank:** FIRST NB OF CLARION (CLARION, IA)

## Other banks FIRST NB OF CLARION has acquired in FDIC resolutions

- LATIMER BANK & TRUST (LATIMER, IA) — failed 1987-01-15 — /failed-bank/1338

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FARMERS STATE BANK (FDIC ID 1485), failed 1987-07-30. Retrieved via AI Analytics 2026-06-25 from https://api.ai-analytics.org/failed-bank/1485.

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