LANESBORO STATE BANK Failed 1987
What happened
LANESBORO STATE BANK of LANESBORO, MN was closed on 1987-06-26. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to GOODHUE CNTY NB OF RED W (RED WING, MN). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1459
- FDIC Certificate
- 12190
- FDIC FIN
- 2704
- Bank name
- LANESBORO STATE BANK
- Location
- LANESBORO, MN
- Failure date
- 1987-06-26
- FDIC resolution date
- 1987-06-26
- 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
- $11M
- Assets at failure
- $11M
- Acquiring bank
- GOODHUE CNTY NB OF RED W (RED WING, MN)
Other banks GOODHUE CNTY NB OF RED W acquired in FDIC resolutions