LATIMER BANK & TRUST Failed 1987
What happened
LATIMER BANK & TRUST of LATIMER, IA was closed on 1987-01-15. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST NB OF CLARION (CLARION, IA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1338
- FDIC Certificate
- 17475
- FDIC FIN
- 2633
- Bank name
- LATIMER BANK & TRUST
- Location
- LATIMER, IA
- Failure date
- 1987-01-15
- FDIC resolution date
- 1987-01-15
- 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.)
- $3M
- Deposits at failure
- $22M
- Assets at failure
- $23M
- Acquiring bank
- FIRST NB OF CLARION (CLARION, IA)
Other banks FIRST NB OF CLARION acquired in FDIC resolutions