CITIZENS S&LA Failed 1985
What happened
CITIZENS S&LA of SALEM, OR was closed on 1985-12-04. The FDIC was named receiver.
Resolution: Insured Deposit Transfer — insured deposits transferred to another bank
Deposits were transferred to FREEDOM FS&LA (CORVALLIS, OR). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1111
- FDIC Certificate
- 31792
- FDIC FIN
- 7565
- Bank name
- CITIZENS S&LA
- Location
- SALEM, OR
- Failure date
- 1985-12-04
- FDIC resolution date
- 1988-01-29
- Charter type
- SL
- Resolution type
- Insured Deposit Transfer — insured deposits transferred to another bank
- FDIC DIF cost (est.)
- $85M
- Deposits at failure
- $153M
- Assets at failure
- $240M
- Acquiring bank
- FREEDOM FS&LA (CORVALLIS, OR)