COMMUNITY STATE BANK Failed 1988

WHITING, IA · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

COMMUNITY STATE BANK of WHITING, IA was closed on 1988-06-02. The FDIC was named receiver.

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

Deposits were transferred to SLOAN STATE BANK (SLOAN, IA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
1764
FDIC Certificate
17153
FDIC FIN
2822
Bank name
COMMUNITY STATE BANK
Location
WHITING, IA
Failure date
1988-06-02
FDIC resolution date
1988-06-02
Charter type
State commercial bank, non-Federal Reserve member (FDIC-supervised)
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$1M
Deposits at failure
$5M
Assets at failure
$5M
Acquiring bank
SLOAN STATE BANK (SLOAN, IA)