# THE FIRST STATE BANK

> **Failed bank** · ROCKFORD, IA · failed 1987-03-04 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $1M

## What happened

THE FIRST STATE BANK of ROCKFORD, IA was closed by regulators 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
- **Estimated FDIC DIF cost:** $1M
- **Deposits at failure:** $15M
- **Assets at failure:** $16M
- **Acquiring bank:** FIRST SECURITY BANK&TRUS (CHARLES CITY, IA)

## Other banks FIRST SECURITY BANK&TRUS has acquired in FDIC resolutions

- AREDALE STATE BANK (AREDALE, IA) — failed 1988-01-20 — /failed-bank/1603

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=THE%20FIRST%20STATE%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, THE FIRST STATE BANK (FDIC ID 1376), failed 1987-03-04. Retrieved via AI Analytics 2026-05-19 from https://api.ai-analytics.org/failed-bank/1376.

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