SARATOGA STATE BANK Failed 1985

What happened

SARATOGA STATE BANK of SARATOGA, WY was closed on 1985-10-11. The FDIC was named receiver.

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

Deposits were transferred to FIRST WYOMING BANK SARAT (SARATOGA, WY). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1082

FDIC Certificate

525

FDIC FIN

2503

Bank name

SARATOGA STATE BANK

Location

SARATOGA, WY

Failure date

1985-10-11

FDIC resolution date

1985-10-11

Charter type

State commercial bank, Federal Reserve member

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$4M

Deposits at failure

$16M

Assets at failure

$18M

Acquiring bank

FIRST WYOMING BANK SARAT (SARATOGA, WY)