Bank failure · OR

First State Bank of Elgin (Elgin, OR) — failed April 12, 1985

First State Bank of Elgin of Elgin, Oregon was closed on April 12, 1985 and resolved through a purchase and assumption. United States Nb of Oreg (OR) took over its insured deposits. At failure it held $18.2M in assets and $15.8M in deposits. The FDIC's estimated loss on the failure is $4.9M (27.1% of assets).