# SANDY STATE BANK

> **Failed bank** · SANDY, UT · failed 1988-05-27 · State commercial bank, Federal Reserve member · FDIC cost $2M

## What happened

SANDY STATE BANK of SANDY, UT was closed by state regulators 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
- **Estimated FDIC DIF cost:** $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 has acquired in FDIC resolutions

- BASIN STATE BANK (VERNAL, UT) — failed 1988-02-12 — /failed-bank/1627
- PIONEER STATE BANK (SALT LAKE CITY, UT) — failed 1986-01-24 — /failed-bank/1137

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=SANDY%20STATE%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, SANDY STATE BANK (FDIC ID 1762), failed 1988-05-27. Retrieved via AI Analytics 2026-07-08 from https://api.ai-analytics.org/failed-bank/1762.

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