VALLEY NATIONAL BANK OF FREMONT Failed 1993

What happened

VALLEY NATIONAL BANK OF FREMONT of HAMBURG, IA was closed on 1993-04-29. The FDIC was named receiver.

Resolution: Payout / Insured deposits — FDIC paid insured deposits directly to depositors

Deposits were transferred to DECATUR COUNTY STATE BAN (LEON, IA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3451

FDIC Certificate

14787

FDIC FIN

4575

Bank name

VALLEY NATIONAL BANK OF FREMONT

Location

HAMBURG, IA

Failure date

1993-04-29

FDIC resolution date

1993-04-29

Charter type

National commercial bank (OCC-chartered)

Resolution type

Payout / Insured deposits — FDIC paid insured deposits directly to depositors

FDIC DIF cost (est.)

$0M

Deposits at failure

$7M

Assets at failure

$7M

Acquiring bank

DECATUR COUNTY STATE BAN (LEON, IA)