THE BANK OF NORTH MISSISSIPPI Failed 1987
What happened
THE BANK OF NORTH MISSISSIPPI of OAKLAND, MS 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 MISSISSIPPI (TUPELO, MS). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1420
- FDIC Certificate
- 11426
- FDIC FIN
- 2679
- Bank name
- THE BANK OF NORTH MISSISSIPPI
- Location
- OAKLAND, MS
- 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.)
- $3M
- Deposits at failure
- $14M
- Assets at failure
- $14M
- Acquiring bank
- BANK OF MISSISSIPPI (TUPELO, MS)