Bank failure · SD

First FSB of South Dakota (Rapid City, SD) — failed April 24, 1992

First FSB of South Dakota of Rapid City, South Dakota was closed on April 24, 1992 and resolved through a purchase and assumption. Metropolitan Fb, FSB (ND) took over its insured deposits. At failure it held $155.9M in assets and $169.9M in deposits. The FDIC's estimated loss on the failure is $24.1M (15.4% of assets).