50 failures · $3.8 billion in assets
Bank failures in 1983
50 insured banks failed in 1983, up from 34 in 1982. Together they reported $3.8 billion in assets, and the FDIC's estimated loss on them is $1.1 billion. The largest was The First National Bank of Midland of Midland, Texas, at $1.4 billion. Tennessee led with 11 failures, ahead of Illinois with 8. The FDIC also recorded 49 assistance transactions that year, kept open rather than closed, and listed separately below.
Week by week
- $1 billion or more
- $100 million to $1 billion
- under $100 million
Where they failed
Failures by state in 1983: Tennessee 11, Illinois 8, California 6, Oregon 4, Texas 3, Missouri 1, Minnesota 1, New Jersey 1, Arkansas 1, Kentucky 1, South Dakota 1, Wyoming 1 and others.
Explore
Filter and sort the 1983 failures by state, size or loss. Other years: 1982 · 1984.
| Closed | Bank | Location | Total assets | Est. loss |
|---|---|---|---|---|
| January 14, 1983 | Valley First Federal Savings and Loan Association | El Centro, CA | $37.1 million | none |
| January 21, 1983 | The Madison County Bank | Fredericktown, MO | $7.0 million | $730 thousand |
| February 3, 1983 | Manning Savings and Loan Association | Chicago, IL | $78.7 million | $19.8 million |
| February 9, 1983 | State Bank of Barnum | Barnum, MN | $13.9 million | $1.7 million |
| February 12, 1983 | American State Bank | Bradley, IL | $14.1 million | $1.2 million |
| February 18, 1983 | Merchants and Farmers State Bank | Blythe, CA | $5.9 million | $972 thousand |
| February 25, 1983 | American City Bank | Los Angles, CA | $319 million | $25.3 million |
| March 11, 1983 | Newport Harbour National Bank | Newport Beach, CA | $47.3 million | $9.7 million |
| March 18, 1983 | Columbia Pacific Bank & Trust Company | Portland, OR | $47.4 million | $213 thousand |
| March 18, 1983 | Pan American National Bank | Union City, NJ | $37.2 million | $5.0 million |
| March 24, 1983 | Prairie County Bank | Hazen, AR | $13.3 million | none |
| March 25, 1983 | Bear Creek Valley Bank | Phoenix, OR | $13.6 million | $4.8 million |
| April 8, 1983 | The Ina State Bank | Ina, IL | $17.7 million | $2.8 million |
| April 8, 1983 | Bank of San Marino | San Marino, CA | $13.0 million | $1.7 million |
| April 15, 1983 | Sparta-Sanders State Bank | Sparta, KY | $19.0 million | $6.6 million |
| April 29, 1983 | First National Bank of Oak Lawn | Oak Lawn, IL | $130 million | $21.4 million |
| April 29, 1983 | Heritage Bank | Ashland, OR | $18.5 million | $4.5 million |
| May 6, 1983 | Smith County Bank | Carthage, TN | $33.0 million | $4.7 million |
| May 27, 1983 | City and County Bank of Knox County | Knoxville, TN | $262 million | $114 million |
| May 27, 1983 | United Southern Bank of Nashville | Nashville, TN | $144 million | $37.8 million |
| May 27, 1983 | City and County Bank of Anderson County | Lake City, TN | $143 million | $59.4 million |
| May 27, 1983 | United American Bank in Hamilton County | Chattanooga, TN | $134 million | $19.1 million |
| May 27, 1983 | City and County Bank of Roane County | Kingston, TN | $42.2 million | $13.1 million |
| May 27, 1983 | The Commercial Bank of California | Los Angeles, CA | $32.4 million | $172 thousand |
| June 17, 1983 | Community Bank | Hartford, SD | $32.0 million | $5.9 million |
| June 24, 1983 | Western National Bank of Lovell | Lovell, WY | $24.8 million | $363 thousand |
| June 30, 1983 | Mineral Bank of Nevada | Las Vegas, NV | $18.0 million | none |
| July 8, 1983 | Antioch Savings and Loan Association | Antioch, IL | $57.9 million | $3.2 million |
| July 8, 1983 | Union National Bank of Chicago | Chicago, IL | $26.3 million | $4.4 million |
| July 8, 1983 | The First Central Bank | Smithville, TN | $18.9 million | $5.5 million |
| July 8, 1983 | Bank of Niobrara | Niobrara, NE | $7.2 million | $2.7 million |
| July 29, 1983 | First Peoples Bank of Washington County | Johnson City, TN | $178 million | $72.5 million |
| July 29, 1983 | Metro Bank | Midland, TX | $33.6 million | $13.2 million |
| August 5, 1983 | The First National Bank of Danvers | Danvers, IL | $12.5 million | $3.2 million |
| August 12, 1983 | First Commerce Bank of Hawkins County | Rogersville, TN | $43.1 million | $16.8 million |
| August 26, 1983 | United Southern Bank of Clarksville | Clarksville, TN | $9.9 million | $6.0 million |
| September 2, 1983 | The Douglass State Bank | Kansas City, KS | $35.4 million | $10.8 million |
| September 16, 1983 | Warren County Bank | McMinniville, TN | $19.6 million | $8.8 million |
| September 30, 1983 | National Bank of Odessa | Odessa, TX | $92.9 million | $22.7 million |
| September 30, 1983 | Dominion Bank of Denver | Denver, CO | $16.7 million | $4.0 million |
| October 7, 1983 | The Deschutes Bank | Redmond, OR | $10.2 million | $4.3 million |
| October 14, 1983 | The First National Bank of Midland | Midland, TX | $1.4 billion | $527 million |
| October 28, 1983 | Cleveland Community Savings Company | Cleveland, OH | $21.0 million | $15.9 million |
| November 3, 1983 | State Savings and Loan Association | Clovis, NM | $30.9 million | $20.8 million |
| November 11, 1983 | First National Bank of Browning | Browning, MT | $13.7 million | $3.1 million |
| November 25, 1983 | Atkinson Trust & Savings Bank | Atkinson, IL | $21.1 million | $9.5 million |
| December 2, 1983 | Metro Federal Savings and Loan Association of Lakes Charles | Lake Charles, LA | $27.4 million | $10.9 million |
| December 9, 1983 | Union Trust Company | San Juan, PR | $30.6 million | $9.2 million |
| December 13, 1983 | Bank of Hackleburg | Hackleburg, AL | $6.5 million | $1.8 million |
| December 16, 1983 | The Bank of Red Oak | Red Oak, OK | $11.1 million | $2.8 million |
Assistance transactions in 1983
In these cases the FDIC or another insurer gave financial help to an insured institution instead of closing it outright. They are not counted as failures on this site.
| Closed | Bank | Location | Total assets | Est. loss |
|---|---|---|---|---|
| January 6, 1983 | Lansing FS&LA | Lansing, IL | $45.8 million | $1.9 million |
| February 9, 1983 | Dry Dock Savings Bank | New York, NY | $2.5 billion | $59.4 million |
| February 12, 1983 | Metropolitan Sa | Farmington, MI | $396 million | $1.5 million |
| February 14, 1983 | United American Bk in Knoxville | Knoxville, TN | $760 million | $266 million |
| February 28, 1983 | Carondelet S&LA Also Case 115 | St. Louis, MO | $741 million | $51.3 million |
| February 28, 1983 | First FS&LA of Moberly | Moberly, MO | $38.7 million | $2.3 million |
| March 1, 1983 | United S&LA | Cincinnati, OH | $102 million | $8.1 million |
| March 1, 1983 | Gem FS&LA | Norwood, OH | $16.8 million | $977 thousand |
| March 4, 1983 | Leader S&LA | Monroe, LA | $230 million | $8.0 million |
| March 5, 1983 | Peninsula FS&LA | Newport News, VA | $95.9 million | $1.9 million |
| March 5, 1983 | First FS&LA of Newport News | Newport News, VA | $94.6 million | $4.4 million |
| March 21, 1983 | Twin Pines FS&LA | Berkeley, CA | $45.9 million | $2.0 million |
| April 1, 1983 | North Mississippi S&LA | Clarksdale, MS | $152 million | $42.7 million |
| April 6, 1983 | Biscayne FS&LA | Miami, FL | $1.9 billion | $389 thousand |
| April 11, 1983 | Northwestern S&LA | Normandy, MO | $82.5 million | $11.9 million |
| April 28, 1983 | Guaranty S&LA | Pittsburgh, PA | $183 million | $11.3 million |
| May 31, 1983 | Continental S&LA | New Orleans, LA | $40.0 million | $2.9 million |
| June 2, 1983 | First FS&LA of Walworth County | Delavan, WI | $38.3 million | $2.6 million |
| June 3, 1983 | Women's FS&LA | Cleveland, OH | $570 million | $26.0 million |
| June 6, 1983 | Jackson FS&LA | Jackson, MS | $34.5 million | $128 thousand |
| June 10, 1983 | First FS&LA of Sioux Falls | Sioux Falls, SD | $78.0 million | $6.9 million |
| June 10, 1983 | First Dakota Home S&LA | Pierre, SD | $27.8 million | $1.8 million |
| June 24, 1983 | Northern FS&LA | St. Paul, MN | $267 million | $1.8 million |
| June 24, 1983 | Colonial Sa | Houston, TX | $90.0 million | $519 thousand |
| July 1, 1983 | Mutual FS&LA of Mason City | Mason City, IA | $119 million | $6.8 million |
| July 5, 1983 | Provident S&LA | Philadelphia, PA | $51.0 million | $1.5 million |
| July 22, 1983 | Guaranty FS&LA | Taylor, MI | $143 million | $1.0 million |
| August 5, 1983 | Oregon Mutual Savings Bank | Portland, OR | $266 million | $11.9 million |
| August 5, 1983 | Mt. Vernon S&LA | Rosslyn, VA | $118 million | $18.6 million |
| August 5, 1983 | First Florida S&LA | Gainesville, FL | $80.8 million | $7.7 million |
| August 5, 1983 | Middle Pnsla Nrth. Neck FS&LA | Gloucester, VA | $44.7 million | $4.3 million |
| August 12, 1983 | Gibraltar S&LA | Maplewood, MO | $48.9 million | $2.0 million |
| August 31, 1983 | Suburban S&LA | Wayne, NJ | $2.0 billion | $60.0 million |
| August 31, 1983 | Washington FS&LA | New York, NY | $645 million | $11.8 million |
| August 31, 1983 | 1st FS&LA of E. Chicago | East Chicago, IN | $210 million | $12.1 million |
| August 31, 1983 | Community FS&LA | Hialeah, FL | $123 million | $1.2 million |
| August 31, 1983 | Gary FS&LA | Gary, IN | $15.2 million | $1.1 million |
| September 1, 1983 | Citizens FS&LA of Marysville | Marysville, OH | $96.6 million | not estimated |
| September 30, 1983 | Bastrop FS&LA | Bastrop, LA | $32.9 million | $983 thousand |
| September 30, 1983 | Security S&LA | Ville Platte, LA | $26.5 million | $329 thousand |
| October 1, 1983 | Auburn Savings Bank | Auburn, NY | $133 million | none |
| October 14, 1983 | First Carolina FS&LA | Columbia, SC | $98.3 million | not estimated |
| November 14, 1983 | First FS&LA of Ft. Wayne | Fort Wayne, IN | $298 million | $17.3 million |
| November 14, 1983 | South Bend FS&LA | South Bend, IN | $71.4 million | $4.7 million |
| November 14, 1983 | American FS&LA | Fort Wayne, IN | $55.4 million | $3.4 million |
| November 14, 1983 | Ft. Wayne FS&LA | Fort Wayne, IN | $37.0 million | $2.2 million |
| December 1, 1983 | Bohemian S&LA | St. Louis, MO | $169 million | $2.5 million |
| December 27, 1983 | Citizens S&LA | Middletown, OH | $63.6 million | $5.4 million |
| December 30, 1983 | First FS&LA of Monroeville | Monroeville, AL | $29.8 million | $2.5 million |