Bank failure · MN

Lakeland Savings Bank FSB (Detroit Lakes, MN) — failed March 16, 1990

Lakeland Savings Bank FSB of Detroit Lakes, Minnesota was closed on March 16, 1990 and resolved through a insured deposit transfer. First Security State Bank (MN) took over its insured deposits. At failure it held $79.6M in assets and $80.6M in deposits. The FDIC's estimated loss on the failure is $24.8M (31.1% of assets).