MERCHANTS & FARMERS STATE BANK Failed 1983

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

What happened

MERCHANTS & FARMERS STATE BANK of BLYTHE, CA was closed on 1983-02-18. The FDIC was named receiver.

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

Deposits were transferred to CREDIT BANK (LOS ANGELES, CA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
753
FDIC Certificate
23035
FDIC FIN
2335
Bank name
MERCHANTS & FARMERS STATE BANK
Location
BLYTHE, CA
Failure date
1983-02-18
FDIC resolution date
1983-02-18
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
$6M
Assets at failure
$6M
Acquiring bank
CREDIT BANK (LOS ANGELES, CA)