FARMERS STATE BANK Failed 1985

What happened

FARMERS STATE BANK of SARGENT, NE was closed on 1985-12-19. The FDIC was named receiver.

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

Deposits were transferred to FIRST NATIONAL BANK IN O (ORD, NE). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1121

FDIC Certificate

16732

FDIC FIN

2524

Bank name

FARMERS STATE BANK

Location

SARGENT, NE

Failure date

1985-12-19

FDIC resolution date

1985-12-19

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.)

$2M

Deposits at failure

$11M

Assets at failure

$12M

Acquiring bank

FIRST NATIONAL BANK IN O (ORD, NE)