# ROCKY MOUNTAIN STATE BANK

> **Failed bank** · SALT LAKE CITY, UT · failed 1987-08-28 · State commercial bank, Federal Reserve member · FDIC cost $3M

## What happened

ROCKY MOUNTAIN STATE BANK of SALT LAKE CITY, UT was closed by state regulators on **1987-08-28**. The FDIC was named receiver.

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

Deposits were transferred to **CITIBANK UTAH** (SALT LAKE CITY, UT). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1506
- **FDIC Certificate:** 22222
- **FDIC FIN:** 2722
- **Bank name:** ROCKY MOUNTAIN STATE BANK
- **Location:** SALT LAKE CITY, UT
- **Failure date:** 1987-08-28
- **FDIC resolution date:** 1987-08-28
- **Charter type:** State commercial bank, Federal Reserve member
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $3M
- **Deposits at failure:** $18M
- **Assets at failure:** $19M
- **Acquiring bank:** CITIBANK UTAH (SALT LAKE CITY, UT)

## Other banks CITIBANK UTAH has acquired in FDIC resolutions

- UTAH FIRSTBANK (SALT LAKE CITY, UT) — failed 1986-01-24 — /failed-bank/1136

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=ROCKY%20MOUNTAIN%20STATE%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, ROCKY MOUNTAIN STATE BANK (FDIC ID 1506), failed 1987-08-28. Retrieved via AI Analytics 2026-06-26 from https://api.ai-analytics.org/failed-bank/1506.

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