# LATIMER BANK & TRUST

> **Failed bank** · LATIMER, IA · failed 1987-01-15 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $3M

## What happened

LATIMER BANK & TRUST of LATIMER, IA was closed by regulators 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
- **Estimated FDIC DIF cost:** $3M
- **Deposits at failure:** $22M
- **Assets at failure:** $23M
- **Acquiring bank:** FIRST NB OF CLARION (CLARION, IA)

## Other banks FIRST NB OF CLARION has acquired in FDIC resolutions

- FARMERS STATE BANK (KANAWHA, IA) — failed 1987-07-30 — /failed-bank/1485

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=LATIMER%20BANK%20%26%20TRUST

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, LATIMER BANK & TRUST (FDIC ID 1338), failed 1987-01-15. Retrieved via AI Analytics 2026-07-19 from https://api.ai-analytics.org/failed-bank/1338.

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