THE PEOPLES BANK Failed 1987

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

What happened

THE PEOPLES BANK of COLLINSVILLE, AL was closed on 1987-04-22. The FDIC was named receiver.

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

Deposits were transferred to BANK OF GERALDINE (GERALDINE, AL). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
1419
FDIC Certificate
76
FDIC FIN
2680
Bank name
THE PEOPLES BANK
Location
COLLINSVILLE, AL
Failure date
1987-04-22
FDIC resolution date
1987-04-22
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
$12M
Assets at failure
$12M
Acquiring bank
BANK OF GERALDINE (GERALDINE, AL)