CITIZENS NATIONAL BANK Failed 1988

What happened

CITIZENS NATIONAL BANK of COLORADO SPRINGS, CO was closed on 1988-04-21. The FDIC was named receiver.

Resolution: Insured Deposit Transfer — insured deposits transferred to another bank

Deposits were transferred to STATE B&T OF CO SPRINGS (COLORADO SPRINGS, CO). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1732

FDIC Certificate

22611

FDIC FIN

5939

Bank name

CITIZENS NATIONAL BANK

Location

COLORADO SPRINGS, CO

Failure date

1988-04-21

FDIC resolution date

1988-04-21

Charter type

National commercial bank (OCC-chartered)

Resolution type

Insured Deposit Transfer — insured deposits transferred to another bank

FDIC DIF cost (est.)

$7M

Deposits at failure

$18M

Assets at failure

$18M

Acquiring bank

STATE B&T OF CO SPRINGS (COLORADO SPRINGS, CO)