FARMERS STATE BANK OF ROUND LAKE Failed 1985
What happened
FARMERS STATE BANK OF ROUND LAKE of ROUND LAKE, MN was closed on 1985-08-02. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FARMERS STB OF MOUNTAIN (MOUNTAIN LAKE, MN). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1042
- FDIC Certificate
- 10970
- FDIC FIN
- 2486
- Bank name
- FARMERS STATE BANK OF ROUND LAKE
- Location
- ROUND LAKE, MN
- Failure date
- 1985-08-02
- FDIC resolution date
- 1985-08-02
- 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.)
- $7M
- Deposits at failure
- $21M
- Assets at failure
- $23M
- Acquiring bank
- FARMERS STB OF MOUNTAIN (MOUNTAIN LAKE, MN)
Other banks FARMERS STB OF MOUNTAIN acquired in FDIC resolutions