CITIZENS BANK OF RAY Failed 1987
What happened
CITIZENS BANK OF RAY of RAY, ND was closed on 1987-10-15. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST NB&T CO OF WILLIST (WILLISTON, ND). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1535
- FDIC Certificate
- 10252
- FDIC FIN
- 2738
- Bank name
- CITIZENS BANK OF RAY
- Location
- RAY, ND
- Failure date
- 1987-10-15
- FDIC resolution date
- 1987-10-15
- 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
- $11M
- Assets at failure
- $12M
- Acquiring bank
- FIRST NB&T CO OF WILLIST (WILLISTON, ND)
Other banks FIRST NB&T CO OF WILLIST acquired in FDIC resolutions