FARMERS STATE BANK Failed 1984

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

What happened

FARMERS STATE BANK of LYONS, SD was closed on 1984-06-15. The FDIC was named receiver.

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

Deposits were transferred to DAKOTA STATE BANK (COLMAN, SD). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
889
FDIC Certificate
9009
FDIC FIN
2394
Bank name
FARMERS STATE BANK
Location
LYONS, SD
Failure date
1984-06-15
FDIC resolution date
1984-06-15
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
$3M
Assets at failure
$3M
Acquiring bank
DAKOTA STATE BANK (COLMAN, SD)