# CITIZENS BANK

> **Failed bank** · SAC CITY, IA · failed 2023-11-03 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $15M

## What happened

CITIZENS BANK of SAC CITY, IA was closed by regulators 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
- **Estimated FDIC DIF cost:** $15M
- **Deposits at failure:** $52M
- **Assets at failure:** $60M
- **Acquiring bank:** IOWA TRUST & SAVINGS BANK (EMMETSBURG, IA)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=CITIZENS%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, CITIZENS BANK (FDIC ID 4109), failed 2023-11-03. Retrieved via AI Analytics 2026-07-10 from https://api.ai-analytics.org/failed-bank/4109.

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