FARMERS STATE BANK OF CLARISSA Failed 1986

What happened

FARMERS STATE BANK OF CLARISSA of CLARISSA, MN was closed on 1986-07-11. The FDIC was named receiver.

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

Deposits were transferred to FIRST STB OF RUSH CITY (RUSH CITY, MN). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1225

FDIC Certificate

9730

FDIC FIN

2573

Bank name

FARMERS STATE BANK OF CLARISSA

Location

CLARISSA, MN

Failure date

1986-07-11

FDIC resolution date

1986-07-11

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.)

$7M

Deposits at failure

$17M

Assets at failure

$18M

Acquiring bank

FIRST STB OF RUSH CITY (RUSH CITY, MN)