MT. ZION STATE BANK Failed 1988
What happened
MT. ZION STATE BANK of MOUNT ZION, IL was closed on 1988-11-04. The FDIC was named receiver.
Resolution: Insured Deposit Transfer — insured deposits transferred to another bank
Deposits were transferred to MOUNT ZION STATE B&T CO (MOUNT ZION, IL). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1975
- FDIC Certificate
- 10836
- FDIC FIN
- 5950
- Bank name
- MT. ZION STATE BANK
- Location
- MOUNT ZION, IL
- Failure date
- 1988-11-04
- FDIC resolution date
- 1988-11-04
- Charter type
- State commercial bank, non-Federal Reserve member (FDIC-supervised)
- Resolution type
- Insured Deposit Transfer — insured deposits transferred to another bank
- FDIC DIF cost (est.)
- $0M
- Deposits at failure
- $26M
- Assets at failure
- $26M
- Acquiring bank
- MOUNT ZION STATE B&T CO (MOUNT ZION, IL)