LAKE NATIONAL BANK Failed 1985

What happened

LAKE NATIONAL BANK of LAKE OZARK, MO was closed on 1985-12-13. The FDIC was named receiver.

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

Deposits were transferred to CENTRAL LAKE STATE BANK (LAKE OZARK, MO). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1118

FDIC Certificate

24449

FDIC FIN

2521

Bank name

LAKE NATIONAL BANK

Location

LAKE OZARK, MO

Failure date

1985-12-13

FDIC resolution date

1985-12-13

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$2M

Deposits at failure

$19M

Assets at failure

$20M

Acquiring bank

CENTRAL LAKE STATE BANK (LAKE OZARK, MO)