Fairmont Federal Savings and Loan Association
Fairmont, MN
$46.0M
total assets, December 31, 1989
$46.0M
total assets, December 31, 1989
Fairmont Federal Savings and Loan Association was a savings and loan in Fairmont, MN. It failed on Feb 9, 1990, and First Farmers & Merchant NB took over its deposits. At its last report it held $46.0 million in assets.
Updated Oct 11, 2026 · numbers as of December 31, 1989
This bank failed
- Failed on
- Feb 9, 1990
- Assets
- $46.0M
- Deposits
- $46.4M
- Estimated cost
- $1.3M
- Deposits went to
- First Farmers & Merchant NB, Fairmont, MN
Total assets
$46.0M
-16.5% in a year · -2.5% in a quarter
Deposits
$46.4M
-12.8% in a year · -0.2% in a quarter
Loans
$25.3M
-8.2% in a year · -2.1% in a quarter
Profit so far
-$712K
Jan 1 to Dec 31, 1989 · -5576.9% in a year
Capital ratio
0.00%
0.00 pts in a year
Return on assets
-1.44%
-1.46 pts in a year
Facts
- Type
- Savings and loan
- Head office
- 115 West First St, Fairmont, MN, 56031
- County
- Martin
- Established
- Jan 1, 1891
- Failed
- Feb 9, 1990
- Id
- b28205
Quarter by quarter
March 31, 1984 to December 31, 1989
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 Fairmont Federal Savings and Loan Association?
$46.0 million in total assets and $46.4 million in deposits as of December 31, 1989, with assets down 16.5% from a year before. Its loans were $25.3 million.
Is Fairmont Federal Savings and Loan Association profitable?
No: it lost $712,000 from January 1 to December 31, 1989. Its return on assets was -1.44% a year; about 1% is typical.
When did Fairmont Federal Savings and Loan Association fail?
Feb 9, 1990. First Farmers & Merchant NB of Fairmont, MN took over its deposits. The estimated cost of the failure was $1.30 million.
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.