# FIRST STATE BANK OF ELGIN

> **Failed bank** · ELGIN, OR · failed 1985-04-12 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $5M

## What happened

FIRST STATE BANK OF ELGIN of ELGIN, OR was closed by regulators on **1985-04-12**. The FDIC was named receiver.

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

Deposits were transferred to **UNITED STATES NB OF OREG** (PORTLAND, OR). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 975
- **FDIC Certificate:** 16255
- **FDIC FIN:** 2454
- **Bank name:** FIRST STATE BANK OF ELGIN
- **Location:** ELGIN, OR
- **Failure date:** 1985-04-12
- **FDIC resolution date:** 1985-04-12
- **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:** $5M
- **Deposits at failure:** $16M
- **Assets at failure:** $18M
- **Acquiring bank:** UNITED STATES NB OF OREG (PORTLAND, OR)

## Other banks UNITED STATES NB OF OREG has acquired in FDIC resolutions

- UNITED BANK OF OREGON (MILWAUKIE, OR) — failed 1984-03-02 — /failed-bank/853
- THE DESCHUTES BANK (REDMOND, OR) — failed 1983-10-07 — /failed-bank/825

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST STATE BANK OF ELGIN (FDIC ID 975), failed 1985-04-12. Retrieved via AI Analytics 2026-05-16 from https://api.ai-analytics.org/failed-bank/975.

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