MOROCCO STATE BANK Failed 1987

MOROCCO, IN · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

MOROCCO STATE BANK of MOROCCO, IN was closed on 1987-03-20. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to DE MOTTE STATE BANK (DEMOTTE, IN). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
1395
FDIC Certificate
13095
FDIC FIN
2667
Bank name
MOROCCO STATE BANK
Location
MOROCCO, IN
Failure date
1987-03-20
FDIC resolution date
1987-03-20
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
$16M
Assets at failure
$16M
Acquiring bank
DE MOTTE STATE BANK (DEMOTTE, IN)