FARMERS STATE BANK OF KANARANZI Failed 1985
What happened
FARMERS STATE BANK OF KANARANZI of KANARANZI, MN was closed on 1985-10-18. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to CITIZENS STB OF SILVER L (SILVER LAKE, MN). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1085
- FDIC Certificate
- 12189
- FDIC FIN
- 2508
- Bank name
- FARMERS STATE BANK OF KANARANZI
- Location
- KANARANZI, MN
- Failure date
- 1985-10-18
- FDIC resolution date
- 1985-10-18
- 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.)
- $1M
- Deposits at failure
- $4M
- Assets at failure
- $4M
- Acquiring bank
- CITIZENS STB OF SILVER L (SILVER LAKE, MN)
Other banks CITIZENS STB OF SILVER L acquired in FDIC resolutions