FIRST INTEGRITY BANK, N.A. Failed 2008

What happened

FIRST INTEGRITY BANK, N.A. of STAPLES, MN was closed on 2008-05-30. The FDIC was named receiver.

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

Deposits were transferred to FIRST INTERNATIONAL BANK AND TRUST (WATFORD, ND). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3559

FDIC Certificate

12736

FDIC FIN

10006

Bank name

FIRST INTEGRITY BANK, N.A.

Location

STAPLES, MN

Failure date

2008-05-30

FDIC resolution date

2008-05-30

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$10M

Deposits at failure

$50M

Assets at failure

$53M

Acquiring bank

FIRST INTERNATIONAL BANK AND TRUST (WATFORD, ND)