FIRST FS & LA OF FARGO Failed 1991
What happened
FIRST FS & LA OF FARGO of FARGO, ND was closed on 1991-05-10. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST NB OF ND (GRAND FORKS, ND). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3095
- FDIC Certificate
- 28265
- FDIC FIN
- 2142
- Bank name
- FIRST FS & LA OF FARGO
- Location
- FARGO, ND
- Failure date
- 1991-05-10
- FDIC resolution date
- 1991-11-01
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $3M
- Deposits at failure
- $51M
- Assets at failure
- $50M
- Acquiring bank
- FIRST NB OF ND (GRAND FORKS, ND)