# WATSON STATE BANK

> **Failed bank** · WATSON, MN · failed 1988-09-30 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $5M

## What happened

WATSON STATE BANK of WATSON, MN was closed by regulators on **1988-09-30**. The FDIC was named receiver.

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

Deposits were transferred to **MINNWEST BANK MONTEVIDEO** (MONTEVIDEO, MN). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1938
- **FDIC Certificate:** 8837
- **FDIC FIN:** 2924
- **Bank name:** WATSON STATE BANK
- **Location:** WATSON, MN
- **Failure date:** 1988-09-30
- **FDIC resolution date:** 1988-09-30
- **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:** $5M
- **Deposits at failure:** $13M
- **Assets at failure:** $14M
- **Acquiring bank:** MINNWEST BANK MONTEVIDEO (MONTEVIDEO, MN)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=WATSON%20STATE%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, WATSON STATE BANK (FDIC ID 1938), failed 1988-09-30. Retrieved via AI Analytics 2026-07-19 from https://api.ai-analytics.org/failed-bank/1938.

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