MENDON STATE BANK Failed 1986
What happened
MENDON STATE BANK of MENDON, IL was closed on 1986-08-20. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST MIDWEST BANK QUINC (QUINCY, IL). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1257
- FDIC Certificate
- 13714
- FDIC FIN
- 2591
- Bank name
- MENDON STATE BANK
- Location
- MENDON, IL
- Failure date
- 1986-08-20
- FDIC resolution date
- 1986-08-20
- 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.)
- $8M
- Deposits at failure
- $18M
- Assets at failure
- $19M
- Acquiring bank
- FIRST MIDWEST BANK QUINC (QUINCY, IL)