SANDY STATE BANK Failed 1988
What happened
SANDY STATE BANK of SANDY, UT was closed on 1988-05-27. 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
- 1762
- FDIC Certificate
- 22511
- FDIC FIN
- 2821
- Bank name
- SANDY STATE BANK
- Location
- SANDY, UT
- Failure date
- 1988-05-27
- FDIC resolution date
- 1988-05-27
- Charter type
- State commercial bank, Federal Reserve member
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $2M
- Deposits at failure
- $8M
- Assets at failure
- $9M
- Acquiring bank
- ZIONS FIRST NATIONAL BAN (SALT LAKE CITY, UT)
Other banks ZIONS FIRST NATIONAL BAN acquired in FDIC resolutions