STATE BANK OF BOYD Failed 1984

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

What happened

STATE BANK OF BOYD of BOYD, MN was closed on 1984-10-24. The FDIC was named receiver.

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

Deposits were transferred to STATE BANK OF MADISON (MADISON, MN). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
932
FDIC Certificate
16646
FDIC FIN
2427
Bank name
STATE BANK OF BOYD
Location
BOYD, MN
Failure date
1984-10-24
FDIC resolution date
1984-10-24
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.)
$3M
Deposits at failure
$6M
Assets at failure
$7M
Acquiring bank
STATE BANK OF MADISON (MADISON, MN)