THE FIRST NATIONAL BANK OF BLOOMING PRAIRI Failed 1988

What happened

THE FIRST NATIONAL BANK OF BLOOMING PRAIRI of BLOOMING PRAIRIE, MN was closed on 1988-07-21. The FDIC was named receiver.

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

Deposits were transferred to FIRST AMN BK BLOOMING PR (BLOOMING PRAIRIE, MN). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1796

FDIC Certificate

5096

FDIC FIN

2844

Bank name

THE FIRST NATIONAL BANK OF BLOOMING PRAIRI

Location

BLOOMING PRAIRIE, MN

Failure date

1988-07-21

FDIC resolution date

1988-07-21

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$2M

Deposits at failure

$20M

Assets at failure

$20M

Acquiring bank

FIRST AMN BK BLOOMING PR (BLOOMING PRAIRIE, MN)