STATE BANK OF GREENWALD Failed 1987
What happened
STATE BANK OF GREENWALD of GREENWALD, MN was closed on 1987-10-02. The FDIC was named receiver.
Resolution: Insured Deposit Transfer — insured deposits transferred to another bank
Deposits were transferred to RURAL AMERICAN BK GREENW (GREENWALD, MN). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1531
- FDIC Certificate
- 12185
- FDIC FIN
- 5909
- Bank name
- STATE BANK OF GREENWALD
- Location
- GREENWALD, MN
- Failure date
- 1987-10-02
- FDIC resolution date
- 1987-10-02
- Charter type
- State commercial bank, non-Federal Reserve member (FDIC-supervised)
- Resolution type
- Insured Deposit Transfer — insured deposits transferred to another bank
- FDIC DIF cost (est.)
- $4M
- Deposits at failure
- $20M
- Assets at failure
- $23M
- Acquiring bank
- RURAL AMERICAN BK GREENW (GREENWALD, MN)