# THE LEE STATE BANK

> **Failed bank** · BROWERVILLE, MN · failed 1989-11-09 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $3M

## What happened

THE LEE STATE BANK of BROWERVILLE, MN was closed by regulators 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
- **Estimated FDIC DIF cost:** $3M
- **Deposits at failure:** $13M
- **Assets at failure:** $13M
- **Acquiring bank:** FIRST NATIONAL BANK OF LONG (LONG PRAIRIE, MN)

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, THE LEE STATE BANK (FDIC ID 2546), failed 1989-11-09. Retrieved via AI Analytics 2026-05-18 from https://api.ai-analytics.org/failed-bank/2546.

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