PEOPLES BANK & TRUST CO. Failed 1985
What happened
PEOPLES BANK & TRUST CO. of WARTBURG, TN was closed on 1985-02-08. The FDIC was named receiver.
Resolution: Insured Deposit Transfer — insured deposits transferred to another bank
Deposits were transferred to CITIZENS BANK&TRUST CO (WARTBURG, TN). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 960
- FDIC Certificate
- 2393
- FDIC FIN
- 6540
- Bank name
- PEOPLES BANK & TRUST CO.
- Location
- WARTBURG, TN
- Failure date
- 1985-02-08
- FDIC resolution date
- 1985-02-08
- Charter type
- State commercial bank, non-Federal Reserve member (FDIC-supervised)
- Resolution type
- Insured Deposit Transfer — insured deposits transferred to another bank
- FDIC DIF cost (est.)
- $6M
- Deposits at failure
- $23M
- Assets at failure
- $24M
- Acquiring bank
- CITIZENS BANK&TRUST CO (WARTBURG, TN)
Other banks CITIZENS BANK&TRUST CO acquired in FDIC resolutions