# MINGO TRUST & SAVINGS BANK

> **Failed bank** · MINGO, IA · failed 1988-09-01 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $1M

## What happened

MINGO TRUST & SAVINGS BANK of MINGO, IA was closed by regulators 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
- **Estimated FDIC DIF cost:** $1M
- **Deposits at failure:** $11M
- **Assets at failure:** $12M
- **Acquiring bank:** EXCHANGE STATE BANK (COLLINS, IA)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=MINGO%20TRUST%20%26%20SAVINGS%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, MINGO TRUST & SAVINGS BANK (FDIC ID 1903), failed 1988-09-01. Retrieved via AI Analytics 2026-06-30 from https://api.ai-analytics.org/failed-bank/1903.

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