MADISON BANK Failed 1985
What happened
MADISON BANK of MADISON, KS was closed on 1985-07-02. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST NB OF MADISON (MADISON, KS). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1026
- FDIC Certificate
- 10510
- FDIC FIN
- 2476
- Bank name
- MADISON BANK
- Location
- MADISON, KS
- Failure date
- 1985-07-02
- FDIC resolution date
- 1985-07-02
- 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.)
- $2M
- Deposits at failure
- $8M
- Assets at failure
- $8M
- Acquiring bank
- FIRST NB OF MADISON (MADISON, KS)