CITIZENS BANK Failed 2023

SAC CITY, IA · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

CITIZENS BANK of SAC CITY, IA was closed on 2023-11-03. The FDIC was named receiver.

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

Deposits were transferred to IOWA TRUST & SAVINGS BANK (EMMETSBURG, IA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
4109
FDIC Certificate
8758
FDIC FIN
10545
Bank name
CITIZENS BANK
Location
SAC CITY, IA
Failure date
2023-11-03
FDIC resolution date
2023-11-03
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.)
$15M
Deposits at failure
$52M
Assets at failure
$60M
Acquiring bank
IOWA TRUST & SAVINGS BANK (EMMETSBURG, IA)