ERICSON STATE BANK Failed 2020

ERICSON, NE · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

ERICSON STATE BANK of ERICSON, NE was closed on 2020-02-14. The FDIC was named receiver.

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

Deposits were transferred to FARMERS AND MERCHANTS BANK (MILFORD, NE). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
4101
FDIC Certificate
18265
FDIC FIN
10535
Bank name
ERICSON STATE BANK
Location
ERICSON, NE
Failure date
2020-02-14
FDIC resolution date
2020-02-14
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.)
$23M
Deposits at failure
$95M
Assets at failure
$101M
Acquiring bank
FARMERS AND MERCHANTS BANK (MILFORD, NE)