BASIN STATE BANK Failed 1988
What happened
BASIN STATE BANK of VERNAL, UT was closed on 1988-02-12. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to ZIONS FIRST NATIONAL BAN (SALT LAKE CITY, UT). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1627
- FDIC Certificate
- 23395
- FDIC FIN
- 2786
- Bank name
- BASIN STATE BANK
- Location
- VERNAL, UT
- 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
- FDIC DIF cost (est.)
- $3M
- Deposits at failure
- $12M
- Assets at failure
- $12M
- Acquiring bank
- ZIONS FIRST NATIONAL BAN (SALT LAKE CITY, UT)
Other banks ZIONS FIRST NATIONAL BAN acquired in FDIC resolutions