COMMERCIAL STATE BANK Failed 1986

What happened

COMMERCIAL STATE BANK of POCAHONTAS, IA was closed on 1986-06-27. The FDIC was named receiver.

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

Deposits were transferred to CITIZENS STATE BANK (POCAHONTAS, IA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1218

FDIC Certificate

257

FDIC FIN

2571

Bank name

COMMERCIAL STATE BANK

Location

POCAHONTAS, IA

Failure date

1986-06-27

FDIC resolution date

1986-06-27

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.)

$10M

Deposits at failure

$43M

Assets at failure

$48M

Acquiring bank

CITIZENS STATE BANK (POCAHONTAS, IA)

Other banks CITIZENS STATE BANK acquired in FDIC resolutions

• CITIZENS STATE BANK (PRINCETON, TX) — failed 1992-12-10
• BURLESON COUNTY SAVINGS ASSOC. (CALDWELL, TX) — failed 1991-05-31
• PEOPLES NATIONAL BANK (CALDWELL, TX) — failed 1990-06-21
• FIRST-TAYLOR NATIONAL BANK (TAYLOR, TX) — failed 1990-05-17
• FIRST STATE BANK (DEANVILLE, TX) — failed 1989-04-20
• CITIZENS STATE BANK (HAYFIELD, MN) — failed 1988-01-27
• THE FIRST NATIONAL BANK OF GORMAN (GORMAN, TX) — failed 1986-02-27