FIRST FS&LA OF GRAND RAPIDS Failed 1988
What happened
FIRST FS&LA OF GRAND RAPIDS of GRAND RAPIDS, MN was closed on 1988-08-26. The FDIC was named receiver.
Resolution: A/A
Deposits were transferred to FIRST FS&LA OF BRAINERD (BRAINERD, MN). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1886
- FDIC Certificate
- 30868
- FDIC FIN
- 1741
- Bank name
- FIRST FS&LA OF GRAND RAPIDS
- Location
- GRAND RAPIDS, MN
- Failure date
- 1988-08-26
- FDIC resolution date
- 1988-08-26
- Charter type
- SL
- Resolution type
- A/A
- FDIC DIF cost (est.)
- $45M
- Deposits at failure
- $97M
- Assets at failure
- $106M
- Acquiring bank
- FIRST FS&LA OF BRAINERD (BRAINERD, MN)
Other banks FIRST FS&LA OF BRAINERD acquired in FDIC resolutions