# THE FIRST STATE BANK

> **Failed bank** · WHITE CLOUD, MI · failed 1988-02-12 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $11M

## What happened

THE FIRST STATE BANK of WHITE CLOUD, MI was closed by regulators on **1988-02-12**. The FDIC was named receiver.

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

Deposits were transferred to **PEOPLES STB OF ST JOSEPH** (ST. JOSEPH, MI). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1625
- **FDIC Certificate:** 10155
- **FDIC FIN:** 2784
- **Bank name:** THE FIRST STATE BANK
- **Location:** WHITE CLOUD, MI
- **Failure date:** 1988-02-12
- **FDIC resolution date:** 1988-02-12
- **Charter type:** State commercial bank, non-Federal Reserve member (FDIC-supervised)
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $11M
- **Deposits at failure:** $37M
- **Assets at failure:** $36M
- **Acquiring bank:** PEOPLES STB OF ST JOSEPH (ST. JOSEPH, MI)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=THE%20FIRST%20STATE%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, THE FIRST STATE BANK (FDIC ID 1625), failed 1988-02-12. Retrieved via AI Analytics 2026-07-04 from https://api.ai-analytics.org/failed-bank/1625.

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