FARMERS STATE BANK Failed 1987
What happened
FARMERS STATE BANK of KANAWHA, IA was closed on 1987-07-30. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST NB OF CLARION (CLARION, IA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1485
- FDIC Certificate
- 13152
- FDIC FIN
- 2714
- Bank name
- FARMERS STATE BANK
- Location
- KANAWHA, IA
- Failure date
- 1987-07-30
- FDIC resolution date
- 1987-07-30
- 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
- $15M
- Assets at failure
- $16M
- Acquiring bank
- FIRST NB OF CLARION (CLARION, IA)
Other banks FIRST NB OF CLARION acquired in FDIC resolutions