CHOKIO STATE BANK Failed 1986

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

What happened

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

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

Deposits were transferred to FIRST STATE BANK CHOKIO (CHOKIO, MN). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
1303
FDIC Certificate
10995
FDIC FIN
2614
Bank name
CHOKIO STATE BANK
Location
CHOKIO, MN
Failure date
1986-11-07
FDIC resolution date
1986-11-07
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.)
$5M
Deposits at failure
$11M
Assets at failure
$12M
Acquiring bank
FIRST STATE BANK CHOKIO (CHOKIO, MN)