# FAIRMONT FEDERAL SAVINGS ASSOC.

> **Failed bank** · FAIRMONT, MN · failed 1990-02-09 · SL · FDIC cost $1M

## What happened

FAIRMONT FEDERAL SAVINGS ASSOC. of FAIRMONT, MN was closed by state regulators on **1990-02-09**. The FDIC was named receiver.

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

Deposits were transferred to **FIRST FARMERS & MERCHANT NB** (FAIRMONT, MN). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 2647
- **FDIC Certificate:** 28205
- **FDIC FIN:** 7163
- **Bank name:** FAIRMONT FEDERAL SAVINGS ASSOC.
- **Location:** FAIRMONT, MN
- **Failure date:** 1990-02-09
- **FDIC resolution date:** 1990-09-07
- **Charter type:** SL
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $1M
- **Deposits at failure:** $46M
- **Assets at failure:** $46M
- **Acquiring bank:** FIRST FARMERS & MERCHANT NB (FAIRMONT, MN)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=FAIRMONT%20FEDERAL%20SAVINGS%20ASSOC.

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FAIRMONT FEDERAL SAVINGS ASSOC. (FDIC ID 2647), failed 1990-02-09. Retrieved via AI Analytics 2026-07-04 from https://api.ai-analytics.org/failed-bank/2647.

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