COLES COUNTY NATIONAL BANK OF CHARLESTON Failed 1982

What happened

COLES COUNTY NATIONAL BANK OF CHARLESTON of CHARLESTON, IL was closed on 1982-05-01. The FDIC was named receiver.

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

Deposits were transferred to EAGLE BANK OF CHARLESTON (CHARLESTON, IL). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

666

FDIC Certificate

18299

FDIC FIN

2309

Bank name

COLES COUNTY NATIONAL BANK OF CHARLESTON

Location

CHARLESTON, IL

Failure date

1982-05-01

FDIC resolution date

1982-05-01

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$2M

Deposits at failure

$24M

Assets at failure

$27M

Acquiring bank

EAGLE BANK OF CHARLESTON (CHARLESTON, IL)