STATE BANK OF FROST Failed 1985
What happened
STATE BANK OF FROST of FROST, MN was closed on 1985-12-20. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FROST STATE BANK (FROST, MN). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1123
- FDIC Certificate
- 1917
- FDIC FIN
- 2525
- Bank name
- STATE BANK OF FROST
- Location
- FROST, MN
- Failure date
- 1985-12-20
- FDIC resolution date
- 1985-12-20
- 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
- $7M
- Assets at failure
- $8M
- Acquiring bank
- FROST STATE BANK (FROST, MN)