Three more banks in Nebraska were shut down.
The Nebraska Department of Banking closed the banks, bringing the total of failed banks in the state to 13. Nationally, 116 banks have failed so far in 1985. State officials blamed the failures of Farmers & Merchants Bank of Comstock, Farmers State Bank of Sargent and Bank of Panama on liberal lending and collection practices and the depressed farm economy. The Federal Deposit Insurance Corp. was appointed receiver of the banks, which were owned primarily by separate holding companies controlled by the Robert A. Wekesser Sr. family of Lincoln, Neb.
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