BANK OF IRON COUNTY Failed 1987

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

What happened

BANK OF IRON COUNTY of PAROWAN, UT was closed on 1987-04-10. The FDIC was named receiver.

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

Deposits were transferred to DIXIE STATE BANK (ST. GEORGE, UT). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
1413
FDIC Certificate
16617
FDIC FIN
2676
Bank name
BANK OF IRON COUNTY
Location
PAROWAN, UT
Failure date
1987-04-10
FDIC resolution date
1987-04-10
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.)
$4M
Deposits at failure
$19M
Assets at failure
$20M
Acquiring bank
DIXIE STATE BANK (ST. GEORGE, UT)