# FIRST NATIONAL BANK OF WOODBINE

> **Failed bank** · WOODBINE, IA · failed 1985-02-07 · National commercial bank (OCC-chartered) · FDIC cost $7M

## What happened

FIRST NATIONAL BANK OF WOODBINE of WOODBINE, IA was closed by the OCC on **1985-02-07**. The FDIC was named receiver.

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

Deposits were transferred to **IOWA SAVINGS BANK** (WOODBINE, IA). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 959
- **FDIC Certificate:** 4523
- **FDIC FIN:** 2441
- **Bank name:** FIRST NATIONAL BANK OF WOODBINE
- **Location:** WOODBINE, IA
- **Failure date:** 1985-02-07
- **FDIC resolution date:** 1985-02-07
- **Charter type:** National commercial bank (OCC-chartered)
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $7M
- **Deposits at failure:** $26M
- **Assets at failure:** $26M
- **Acquiring bank:** IOWA SAVINGS BANK (WOODBINE, IA)

## Other banks IOWA SAVINGS BANK has acquired in FDIC resolutions

- PISGAH SAVINGS BANK (PISGAH, IA) — failed 1988-09-01 — /failed-bank/1905

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=FIRST%20NATIONAL%20BANK%20OF%20WOODBINE

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST NATIONAL BANK OF WOODBINE (FDIC ID 959), failed 1985-02-07. Retrieved via AI Analytics 2026-05-20 from https://api.ai-analytics.org/failed-bank/959.

---

*[FDIC failures dataset](/datasets/fdic-failures) · CC0 1.0*