VALLEY BANK Failed 2014
What happened
VALLEY BANK of MOLINE, IL was closed on 2014-06-20. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to GREAT SOUTHERN BANK (REEDS SPRING, MO). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 4067
- FDIC Certificate
- 10450
- FDIC FIN
- 10502
- Bank name
- VALLEY BANK
- Location
- MOLINE, IL
- Failure date
- 2014-06-20
- FDIC resolution date
- 2014-06-20
- 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.)
- $48M
- Deposits at failure
- $360M
- Assets at failure
- $456M
- Acquiring bank
- GREAT SOUTHERN BANK (REEDS SPRING, MO)
Other banks GREAT SOUTHERN BANK acquired in FDIC resolutions