CLAY COUNTY STATE BANK Failed 1987

DILWORTH, MN · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

CLAY COUNTY STATE BANK of DILWORTH, MN was closed on 1987-10-01. The FDIC was named receiver.

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

Deposits were transferred to NORTHWESTERN STB OF ULEN (ULEN, MN). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
1528
FDIC Certificate
18867
FDIC FIN
2734
Bank name
CLAY COUNTY STATE BANK
Location
DILWORTH, MN
Failure date
1987-10-01
FDIC resolution date
1987-10-01
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.)
$1M
Deposits at failure
$10M
Assets at failure
$10M
Acquiring bank
NORTHWESTERN STB OF ULEN (ULEN, MN)