FIRST FSB OF SOUTH DAKOTA Failed 1992
What happened
FIRST FSB OF SOUTH DAKOTA of RAPID CITY, SD was closed on 1992-04-24. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to METROPOLITAN FB, FSB (FARGO, ND). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3314
- FDIC Certificate
- 27853
- FDIC FIN
- 1213
- Bank name
- FIRST FSB OF SOUTH DAKOTA
- Location
- RAPID CITY, SD
- Failure date
- 1992-04-24
- FDIC resolution date
- 1992-04-24
- Charter type
- Savings bank
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $24M
- Deposits at failure
- $170M
- Assets at failure
- $156M
- Acquiring bank
- METROPOLITAN FB, FSB (FARGO, ND)
Other banks METROPOLITAN FB, FSB acquired in FDIC resolutions