THE BANK OF LORETTO Failed 1985

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

What happened

THE BANK OF LORETTO of LORETTO, TN was closed on 1985-09-04. The FDIC was named receiver.

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

Deposits were transferred to FIRST FARMERS&MERCHANTS (COLUMBIA, TN). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
1063
FDIC Certificate
6096
FDIC FIN
2496
Bank name
THE BANK OF LORETTO
Location
LORETTO, TN
Failure date
1985-09-04
FDIC resolution date
1985-09-04
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.)
$4M
Deposits at failure
$25M
Assets at failure
$26M
Acquiring bank
FIRST FARMERS&MERCHANTS (COLUMBIA, TN)