# THE FIRST NATIONAL BANK OF ELBOW LAKE

> **Failed bank** · ELBOW LAKE, MN · failed 1987-05-14 · National commercial bank (OCC-chartered) · FDIC cost $8M

## What happened

THE FIRST NATIONAL BANK OF ELBOW LAKE of ELBOW LAKE, MN was closed by the OCC on **1987-05-14**. The FDIC was named receiver.

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

Deposits were transferred to **FIRST NB OF FERGUS FALLS** (FERGUS FALLS, MN). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1433
- **FDIC Certificate:** 5135
- **FDIC FIN:** 2689
- **Bank name:** THE FIRST NATIONAL BANK OF ELBOW LAKE
- **Location:** ELBOW LAKE, MN
- **Failure date:** 1987-05-14
- **FDIC resolution date:** 1987-05-14
- **Charter type:** National commercial bank (OCC-chartered)
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $8M
- **Deposits at failure:** $16M
- **Assets at failure:** $14M
- **Acquiring bank:** FIRST NB OF FERGUS FALLS (FERGUS FALLS, MN)

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, THE FIRST NATIONAL BANK OF ELBOW LAKE (FDIC ID 1433), failed 1987-05-14. Retrieved via AI Analytics 2026-06-25 from https://api.ai-analytics.org/failed-bank/1433.

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