# FIRST BANK

> **Failed bank** · COLORADO SPRINGS, CO · failed 1989-10-06 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $11M

## What happened

FIRST BANK of COLORADO SPRINGS, CO was closed by regulators 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
- **Estimated FDIC DIF cost:** $11M
- **Deposits at failure:** $34M
- **Assets at failure:** $36M
- **Acquiring bank:** COLORADO NATIONAL BANK - EX (COLORADO SPRINGS, CO)

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST BANK (FDIC ID 2523), failed 1989-10-06. Retrieved via AI Analytics 2026-05-20 from https://api.ai-analytics.org/failed-bank/2523.

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