BANK OF EPHRAIM Failed 2004

What happened

BANK OF EPHRAIM of EPHRAIM, UT was closed on 2004-06-25. The FDIC was named receiver.

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

Deposits were transferred to FAR WEST BANK (PROVO, UT). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3552

FDIC Certificate

1249

FDIC FIN

4665

Bank name

BANK OF EPHRAIM

Location

EPHRAIM, UT

Failure date

2004-06-25

FDIC resolution date

2004-06-25

Charter type

State commercial bank, Federal Reserve member

Resolution type

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

FDIC DIF cost (est.)

$3M

Deposits at failure

$52M

Assets at failure

$57M

Acquiring bank

FAR WEST BANK (PROVO, UT)