THE PEOPLES BANK Failed 1987

OLIVE HILL, KY · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

THE PEOPLES BANK of OLIVE HILL, KY was closed on 1987-12-03. The FDIC was named receiver.

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

Deposits were transferred to COMMERCIAL BANK OF GRAYS (GRAYSON, KY). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
1564
FDIC Certificate
8783
FDIC FIN
2759
Bank name
THE PEOPLES BANK
Location
OLIVE HILL, KY
Failure date
1987-12-03
FDIC resolution date
1987-12-03
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.)
$8M
Deposits at failure
$39M
Assets at failure
$41M
Acquiring bank
COMMERCIAL BANK OF GRAYS (GRAYSON, KY)