FIRST BANK Failed 1989

COLORADO SPRINGS, CO · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

FIRST BANK of COLORADO SPRINGS, CO was closed on 1989-10-06. The FDIC was named receiver.

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

Deposits were transferred to COLORADO NATIONAL BANK - EX (COLORADO SPRINGS, CO). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
2523
FDIC Certificate
21263
FDIC FIN
4100
Bank name
FIRST BANK
Location
COLORADO SPRINGS, CO
Failure date
1989-10-06
FDIC resolution date
1989-10-06
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.)
$11M
Deposits at failure
$34M
Assets at failure
$36M
Acquiring bank
COLORADO NATIONAL BANK - EX (COLORADO SPRINGS, CO)