FIRST NATIONAL BANK OF EADS Failed 1985

What happened

FIRST NATIONAL BANK OF EADS of EADS, CO was closed on 1985-02-14. The FDIC was named receiver.

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

Deposits were transferred to OMNIBANK OF KIOWA COUNTY (EADS, CO). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

962

FDIC Certificate

14563

FDIC FIN

2444

Bank name

FIRST NATIONAL BANK OF EADS

Location

EADS, CO

Failure date

1985-02-14

FDIC resolution date

1985-02-14

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$5M

Deposits at failure

$17M

Assets at failure

$18M

Acquiring bank

OMNIBANK OF KIOWA COUNTY (EADS, CO)