RAINSVILLE BANK Failed 1986

RAINSVILLE, AL · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

RAINSVILLE BANK of RAINSVILLE, AL was closed on 1986-05-09. The FDIC was named receiver.

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

Deposits were transferred to JACOBS BANK (SCOTTSBORO, AL). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
1193
FDIC Certificate
19216
FDIC FIN
2557
Bank name
RAINSVILLE BANK
Location
RAINSVILLE, AL
Failure date
1986-05-09
FDIC resolution date
1986-05-09
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.)
$1M
Deposits at failure
$16M
Assets at failure
$17M
Acquiring bank
JACOBS BANK (SCOTTSBORO, AL)