Closed Friday, May 9, 2003 · Blanchardville, Lafayette County, Wisconsin
First National Bank of Blanchardville
No bank in Wisconsin had failed for eleven years, since Monycor Savings Bank, FSB closed in 1991. First National Bank of Blanchardville was the second-largest of the 3 bank failures in 2003.
On the books, 1995 to 2003
Total assets were at their highest of these 32 quarters in the final report, for the first quarter of 2003. Equity capital went from 8.6% of assets in the second quarter of 1995 to 6.5% at the last report. Every reporting year on this chart closed with a net profit.* 2003: January to March only, the last report before closing.
Size against the other 2003 failures
Total assets of each 2003 failure, log scale; First National Bank of Blanchardville in red.
Within Wisconsin it ranks 16th by size of the 49 failures recorded since 1934. Across the failures of 2003, the median estimated loss came to 8.0% of assets. In the size ranking of that year, just above it was Southern Pacific Bank of Torrance, California ($904 million, loss 5.4% of assets); just below, Pulaski Savings Bank of Philadelphia, Pennsylvania ($8.5 million, loss 8.0% of assets). Every 2003 failure in the explorer.
Failures in Wisconsin
The next was Bank of Elmwood of Racine, on October 23, 2009. No other failed bank in the FDIC's records was based in Lafayette County.