Closed Friday, July 10, 2009 · Thermopolis, Hot Springs County, Wyoming
Bank of Wyoming
No bank in Wyoming had failed for 17 years, since Westland Federal Savings and Loan Association closed in 1991. The estimated loss came to 46% of Bank of Wyoming's assets, one of the 30 highest ratios among the 583 failures since 2000. Its assets had shrunk 41% from their peak in the fourth quarter of 2008 by the last report before closing.
On the books, 2001 to 2009
Total assets peaked at $118 million. Equity capital went from 9.9% of assets in the third quarter of 2001 to 4.4% at the last report. By then 41% of its loans were 90 days or more past due or no longer accruing interest. The deepest annual loss, $4.6 million, was booked in 2009 in only part of the year.* 2009: January to June only, the last report before closing.
Size against the other 2009 failures
Total assets of each 2009 failure, log scale; Bank of Wyoming in red.
By assets it ranked 126th of the 140 failures in 2009. Of the 27 failed banks on record in Wyoming since 1934, it ranks third by size. Across the failures of 2009, the median estimated loss came to 27% of assets. In the size ranking of that year, just above it was Commerce Bank of Southwest Florida of Fort Myers, Florida ($71.0 million, loss 45% of assets); just below, The John Warner Bank of Clinton, Illinois ($69.6 million, loss 21% of assets). Every 2009 failure in the explorer.
Failures in Wyoming
No bank in Wyoming has failed since. No other failed bank in the FDIC's records was based in Hot Springs County.