MINGO TRUST & SAVINGS BANK Failed 1988

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

What happened

MINGO TRUST & SAVINGS BANK of MINGO, IA was closed on 1988-09-01. The FDIC was named receiver.

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

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

Key facts

FDIC ID
1903
FDIC Certificate
5798
FDIC FIN
2914
Bank name
MINGO TRUST & SAVINGS BANK
Location
MINGO, IA
Failure date
1988-09-01
FDIC resolution date
1988-09-01
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
$11M
Assets at failure
$12M
Acquiring bank
EXCHANGE STATE BANK (COLLINS, IA)