GERMANIA BANK, FSB Failed 1990
What happened
GERMANIA BANK, FSB of ALTON, IL was closed on 1990-06-22. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to MERCANTILE BANK OF ST. LOUI (ST. LOUIS, MO). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2824
- FDIC Certificate
- 30353
- FDIC FIN
- 7374
- Bank name
- GERMANIA BANK, FSB
- Location
- ALTON, IL
- Failure date
- 1990-06-22
- FDIC resolution date
- 1991-07-26
- Charter type
- Savings bank
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $61M
- Deposits at failure
- $663M
- Assets at failure
- $786M
- Acquiring bank
- MERCANTILE BANK OF ST. LOUI (ST. LOUIS, MO)
Other banks MERCANTILE BANK OF ST. LOUI acquired in FDIC resolutions