# THE GARNETT S & L ASSOC.

> **Failed bank** · GARNETT, KS · failed 1989-12-07 · SL · FDIC cost $1M

## What happened

THE GARNETT S & L ASSOC. of GARNETT, KS was closed by state regulators on **1989-12-07**. The FDIC was named receiver.

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

Deposits were transferred to **FARMERS STATE BANK** (BLUE MOUND, KS). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 2579
- **FDIC Certificate:** 29516
- **FDIC FIN:** 7126
- **Bank name:** THE GARNETT S & L ASSOC.
- **Location:** GARNETT, KS
- **Failure date:** 1989-12-07
- **FDIC resolution date:** 1990-08-10
- **Charter type:** SL
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $1M
- **Deposits at failure:** $15M
- **Assets at failure:** $14M
- **Acquiring bank:** FARMERS STATE BANK (BLUE MOUND, KS)

## Other banks FARMERS STATE BANK has acquired in FDIC resolutions

- THE FIRST NATIONAL BANK OF WORTH (WORTHAM, TX) — failed 1991-02-14 — /failed-bank/3017
- THE FALUN STATE BANK (FALUN, KS) — failed 1987-12-29 — /failed-bank/1586
- BANK OF PANAMA (PANAMA, NE) — failed 1985-12-19 — /failed-bank/1122
- THE BANK OF RED OAK (RED OAK, OK) — failed 1983-12-16 — /failed-bank/840

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=THE%20GARNETT%20S%20%26%20L%20ASSOC.

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, THE GARNETT S & L ASSOC. (FDIC ID 2579), failed 1989-12-07. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/2579.

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