THE LEE STATE BANK Failed 1989
What happened
THE LEE STATE BANK of BROWERVILLE, MN was closed on 1989-11-09. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST NATIONAL BANK OF LONG (LONG PRAIRIE, MN). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2546
- FDIC Certificate
- 15080
- FDIC FIN
- 4114
- Bank name
- THE LEE STATE BANK
- Location
- BROWERVILLE, MN
- Failure date
- 1989-11-09
- FDIC resolution date
- 1989-11-09
- 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.)
- $3M
- Deposits at failure
- $13M
- Assets at failure
- $13M
- Acquiring bank
- FIRST NATIONAL BANK OF LONG (LONG PRAIRIE, MN)