$3.2M
total assets, June 30, 1988
Biwabik State Bank was a state nonmember bank in Biwabik, MN. It failed on Aug 26, 1988, and First National Bank took over its deposits. At its last report it held $3.24 million in assets.
Updated Oct 11, 2026 · numbers as of June 30, 1988
This bank failed
- Failed on
- Aug 26, 1988
- Assets
- $3.2M
- Deposits
- $3.2M
- Estimated cost
- $451K
- Deposits went to
- First National Bank, Keewatin, MN
Total assets
$3.2M
-25.7% in a year · -23.9% in a quarter
Deposits
$3.2M
-21.5% in a year · -21.6% in a quarter
Loans
$1.9M
-27.2% in a year · -14.7% in a quarter
Profit so far
-$149K
Jan 1 to Jun 30, 1988
Capital ratio
-0.44%
-5.55 pts in a year
Return on assets
-7.50%
-3.72 pts in a year
Facts
- Type
- State nonmember bank
- Head office
- Main Street, Biwabik, MN, 55708
- County
- St. Louis
- Established
- Jan 2, 1953
- Failed
- Aug 26, 1988
- Employees
- 6
- Id
- b17163
Quarter by quarter
March 31, 1984 to June 30, 1988
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 12
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Related pages
Questions and answers
How big is Biwabik State Bank?
$3.24 million in total assets and $3.23 million in deposits as of June 30, 1988, with assets down 25.7% from a year before. Its loans were $1.90 million.
Is Biwabik State Bank profitable?
No: it lost $149,000 from January 1 to June 30, 1988. Its return on assets was -7.50% a year; about 1% is typical.
When did Biwabik State Bank fail?
Aug 26, 1988. First National Bank of Keewatin, MN took over its deposits. The estimated cost of the failure was $450,634.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.