ST. STEPHEN STATE BANK Failed 2010
What happened
ST. STEPHEN STATE BANK of ST. STEPHEN, MN was closed on 2010-01-15. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST STATE BANK OF ST. JOSEPH (ST. JOSEPH, MN). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3736
- FDIC Certificate
- 17522
- FDIC FIN
- 10169
- Bank name
- ST. STEPHEN STATE BANK
- Location
- ST. STEPHEN, MN
- Failure date
- 2010-01-15
- FDIC resolution date
- 2010-01-15
- Charter type
- State commercial bank, non-Federal Reserve member (FDIC-supervised)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $8M
- Deposits at failure
- $24M
- Assets at failure
- $23M
- Acquiring bank
- FIRST STATE BANK OF ST. JOSEPH (ST. JOSEPH, MN)