State Bank of Morgan
Morgan, MN · Owner: Morgan Bcorp Inc
$20.3M
total assets, December 31, 1987
$20.3M
total assets, December 31, 1987
State Bank of Morgan was a state nonmember bank in Morgan, MN, owned by Morgan Bcorp Inc. It failed on Mar 18, 1988, and Farmers & Merchants STB SP took over its deposits. At its last report it held $20.3 million in assets.
Updated Oct 11, 2026 · numbers as of December 31, 1987
This bank failed
- Failed on
- Mar 18, 1988
- Assets
- $20.3M
- Deposits
- $20.0M
- Estimated cost
- $2.2M
- Deposits went to
- Farmers & Merchants STB SP, Springfield, MN
Total assets
$20.3M
-22.2% in a year · -1.1% in a quarter
Deposits
$20.0M
-16.1% in a year · +2.8% in a quarter
Loans
$9.0M
-19.8% in a year · -11.1% in a quarter
Profit so far
-$1.9M
Jan 1 to Dec 31, 1987
Capital ratio
-1.10%
-7.57 pts in a year
Return on assets
-8.29%
-7.81 pts in a year
Facts
- Type
- State nonmember bank
- Head office
- 101 Vernon Avenue, Morgan, MN, 56266
- County
- Redwood
- Holding company
- Morgan Bcorp Inc
- Established
- Aug 1, 1893
- Failed
- Mar 18, 1988
- Employees
- 12
- Id
- b1930
Quarter by quarter
March 31, 1984 to December 31, 1987
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 State Bank of Morgan?
$20.3 million in total assets and $20.0 million in deposits as of December 31, 1987, with assets down 22.2% from a year before. Its loans were $9.03 million.
Is State Bank of Morgan profitable?
No: it lost $1.88 million from January 1 to December 31, 1987. Its return on assets was -8.29% a year; about 1% is typical.
Who owns State Bank of Morgan?
State Bank of Morgan is owned by Morgan Bcorp Inc, its holding company.
When did State Bank of Morgan fail?
Mar 18, 1988. Farmers & Merchants STB SP of Springfield, MN took over its deposits. The estimated cost of the failure was $2.23 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.