THE FIRST STATE BANK Failed 1987
What happened
THE FIRST STATE BANK of ROCKFORD, IA was closed on 1987-03-04. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST SECURITY BANK&TRUS (CHARLES CITY, IA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1376
- FDIC Certificate
- 9101
- FDIC FIN
- 2653
- Bank name
- THE FIRST STATE BANK
- Location
- ROCKFORD, IA
- Failure date
- 1987-03-04
- FDIC resolution date
- 1987-03-04
- 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.)
- $1M
- Deposits at failure
- $15M
- Assets at failure
- $16M
- Acquiring bank
- FIRST SECURITY BANK&TRUS (CHARLES CITY, IA)
Other banks FIRST SECURITY BANK&TRUS acquired in FDIC resolutions