AMERICAN STATE BANK Failed 1983
What happened
AMERICAN STATE BANK of BRADLEY, IL was closed on 1983-02-12. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to MIDWEST T&SB OF BRADLEY (BRADLEY, IL). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 750
- FDIC Certificate
- 22880
- FDIC FIN
- 2334
- Bank name
- AMERICAN STATE BANK
- Location
- BRADLEY, IL
- Failure date
- 1983-02-12
- FDIC resolution date
- 1983-02-12
- 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.)
- $1M
- Deposits at failure
- $14M
- Assets at failure
- $14M
- Acquiring bank
- MIDWEST T&SB OF BRADLEY (BRADLEY, IL)