AREDALE STATE BANK Failed 1988
What happened
AREDALE STATE BANK of AREDALE, IA was closed on 1988-01-20. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST SECURITY BANK&TRUS (CHARLES CITY, IA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1603
- FDIC Certificate
- 14376
- FDIC FIN
- 2772
- Bank name
- AREDALE STATE BANK
- Location
- AREDALE, IA
- Failure date
- 1988-01-20
- FDIC resolution date
- 1988-01-20
- 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.)
- $0M
- Deposits at failure
- $9M
- Assets at failure
- $10M
- Acquiring bank
- FIRST SECURITY BANK&TRUS (CHARLES CITY, IA)
Other banks FIRST SECURITY BANK&TRUS acquired in FDIC resolutions