THE BEDFORD NATIONAL BANK Failed 1986

What happened

THE BEDFORD NATIONAL BANK of BEDFORD, IA was closed on 1986-05-01. The FDIC was named receiver.

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

Deposits were transferred to AMERICAN NATIONAL BANK (BEDFORD, IA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1189

FDIC Certificate

4426

FDIC FIN

2555

Bank name

THE BEDFORD NATIONAL BANK

Location

BEDFORD, IA

Failure date

1986-05-01

FDIC resolution date

1986-05-01

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$5M

Deposits at failure

$18M

Assets at failure

$19M

Acquiring bank

AMERICAN NATIONAL BANK (BEDFORD, IA)

Other banks AMERICAN NATIONAL BANK acquired in FDIC resolutions

• BANK OF WILSON (WILSON, OK) — failed 1990-07-26
• THE SECURITY STATE BANK (COMANCHE, OK) — failed 1988-09-22
• AMERICAN NATIONAL BANK (PARMA, OH) — failed 1988-02-12
• THE FIRST NATIONAL BANK OF HAMMON (HAMMON, OK) — failed 1987-09-03