FARMERS & MERCHANTS BANK OF ELMO Failed 1988
What happened
FARMERS & MERCHANTS BANK OF ELMO of ELMO, MO was closed on 1988-08-04. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST BANK OF MARYVILLE (MARYVILLE, MO). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1849
- FDIC Certificate
- 13644
- FDIC FIN
- 2889
- Bank name
- FARMERS & MERCHANTS BANK OF ELMO
- Location
- ELMO, MO
- Failure date
- 1988-08-04
- FDIC resolution date
- 1988-08-04
- 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.)
- $3M
- Deposits at failure
- $9M
- Assets at failure
- $9M
- Acquiring bank
- FIRST BANK OF MARYVILLE (MARYVILLE, MO)
Other banks FIRST BANK OF MARYVILLE acquired in FDIC resolutions