THE CITIZENS BANK Failed 1985
What happened
THE CITIZENS BANK of OGDEN, UT was closed on 1985-10-18. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to COMMERCIAL SECURITY BANK (OGDEN, UT). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1087
- FDIC Certificate
- 19383
- FDIC FIN
- 2509
- Bank name
- THE CITIZENS BANK
- Location
- OGDEN, UT
- 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.)
- $34M
- Deposits at failure
- $86M
- Assets at failure
- $93M
- Acquiring bank
- COMMERCIAL SECURITY BANK (OGDEN, UT)
Other banks COMMERCIAL SECURITY BANK acquired in FDIC resolutions