# PEOPLE'S STATE BANK OF MAZEPPA

> **Failed bank** · MAZEPPA, MN · failed 1987-08-21 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $5M

## What happened

PEOPLE'S STATE BANK OF MAZEPPA of MAZEPPA, MN was closed by regulators on **1987-08-21**. The FDIC was named receiver.

**Resolution:** Insured Deposit Transfer — insured deposits transferred to another bank

Deposits were transferred to **FIRST STATE BANK OF RED** (RED WING, MN). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1503
- **FDIC Certificate:** 9753
- **FDIC FIN:** 6901
- **Bank name:** PEOPLE'S STATE BANK OF MAZEPPA
- **Location:** MAZEPPA, MN
- **Failure date:** 1987-08-21
- **FDIC resolution date:** 1987-08-21
- **Charter type:** State commercial bank, non-Federal Reserve member (FDIC-supervised)
- **Resolution type:** Insured Deposit Transfer — insured deposits transferred to another bank
- **Estimated FDIC DIF cost:** $5M
- **Deposits at failure:** $20M
- **Assets at failure:** $22M
- **Acquiring bank:** FIRST STATE BANK OF RED (RED WING, MN)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=PEOPLE'S%20STATE%20BANK%20OF%20MAZEPPA

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, PEOPLE'S STATE BANK OF MAZEPPA (FDIC ID 1503), failed 1987-08-21. Retrieved via AI Analytics 2026-05-16 from https://api.ai-analytics.org/failed-bank/1503.

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