STATE BANK OF CUBA Failed 1987
What happened
STATE BANK OF CUBA of CUBA, IL was closed on 1987-01-09. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to NATIONAL BANK OF CANTON (CANTON, IL). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1336
- FDIC Certificate
- 12548
- FDIC FIN
- 2632
- Bank name
- STATE BANK OF CUBA
- Location
- CUBA, IL
- Failure date
- 1987-01-09
- FDIC resolution date
- 1987-01-09
- 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.)
- $2M
- Deposits at failure
- $18M
- Assets at failure
- $18M
- Acquiring bank
- NATIONAL BANK OF CANTON (CANTON, IL)
Other banks NATIONAL BANK OF CANTON acquired in FDIC resolutions