FOREST CITY BANK & TRUST CO. Failed 1988

FOREST CITY, IA · State commercial bank, Federal Reserve member · view on FDIC BankFind ↗

What happened

FOREST CITY BANK & TRUST CO. of FOREST CITY, IA was closed on 1988-05-06. The FDIC was named receiver.

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

Deposits were transferred to LIBERTY BANK&TRUST (FOREST CITY, IA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
1742
FDIC Certificate
15745
FDIC FIN
2814
Bank name
FOREST CITY BANK & TRUST CO.
Location
FOREST CITY, IA
Failure date
1988-05-06
FDIC resolution date
1988-05-06
Charter type
State commercial bank, Federal Reserve member
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$1M
Deposits at failure
$26M
Assets at failure
$27M
Acquiring bank
LIBERTY BANK&TRUST (FOREST CITY, IA)