FIRST COMMERCE SB, FSB Failed 1991

What happened

FIRST COMMERCE SB, FSB of LOWELL, IN was closed on 1991-06-14. The FDIC was named receiver.

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

Deposits were transferred to CENTIER BANK (WHITING, IN). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3130

FDIC Certificate

31276

FDIC FIN

2159

Bank name

FIRST COMMERCE SB, FSB

Location

LOWELL, IN

Failure date

1991-06-14

FDIC resolution date

1992-02-07

Charter type

Savings bank

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$1M

Deposits at failure

$11M

Assets at failure

$11M

Acquiring bank

CENTIER BANK (WHITING, IN)