# FOREST CITY BANK & TRUST CO.

> **Failed bank** · FOREST CITY, IA · failed 1988-05-06 · State commercial bank, Federal Reserve member · FDIC cost $1M

## What happened

FOREST CITY BANK & TRUST CO. of FOREST CITY, IA was closed by state regulators 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
- **Estimated FDIC DIF cost:** $1M
- **Deposits at failure:** $26M
- **Assets at failure:** $27M
- **Acquiring bank:** LIBERTY BANK&TRUST (FOREST CITY, IA)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=FOREST%20CITY%20BANK%20%26%20TRUST%20CO.

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FOREST CITY BANK & TRUST CO. (FDIC ID 1742), failed 1988-05-06. Retrieved via AI Analytics 2026-07-09 from https://api.ai-analytics.org/failed-bank/1742.

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