# CITIZENS STATE BK OF GIBBON

> **Failed bank** · GIBBON, MN · failed 1988-03-18 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $4M

## What happened

CITIZENS STATE BK OF GIBBON of GIBBON, MN was closed by regulators on **1988-03-18**. The FDIC was named receiver.

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

Deposits were transferred to **MINNESOTA VALLEY BANK** (REDWOOD FALLS, MN). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1653
- **FDIC Certificate:** 13640
- **FDIC FIN:** 2797
- **Bank name:** CITIZENS STATE BK OF GIBBON
- **Location:** GIBBON, MN
- **Failure date:** 1988-03-18
- **FDIC resolution date:** 1988-03-18
- **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:** $4M
- **Deposits at failure:** $15M
- **Assets at failure:** $15M
- **Acquiring bank:** MINNESOTA VALLEY BANK (REDWOOD FALLS, MN)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=CITIZENS%20STATE%20BK%20OF%20GIBBON

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, CITIZENS STATE BK OF GIBBON (FDIC ID 1653), failed 1988-03-18. Retrieved via AI Analytics 2026-05-20 from https://api.ai-analytics.org/failed-bank/1653.

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