SWIFT COUNTY BANK Failed 1985

BENSON, MN · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

SWIFT COUNTY BANK of BENSON, MN was closed on 1985-06-14. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to FIRST SECURITY STB SLEEP (SLEEPY EYE, MN). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
1010
FDIC Certificate
1602
FDIC FIN
2472
Bank name
SWIFT COUNTY BANK
Location
BENSON, MN
Failure date
1985-06-14
FDIC resolution date
1985-06-14
Charter type
State commercial bank, non-Federal Reserve member (FDIC-supervised)
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$8M
Deposits at failure
$38M
Assets at failure
$42M
Acquiring bank
FIRST SECURITY STB SLEEP (SLEEPY EYE, MN)