COMMERCIAL STATE BANK Failed 1985
What happened
COMMERCIAL STATE BANK of AFTON, IA was closed on 1985-03-08. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to CITIZENS SAVINGS BANK (AFTON, IA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 966
- FDIC Certificate
- 949
- FDIC FIN
- 2448
- Bank name
- COMMERCIAL STATE BANK
- Location
- AFTON, IA
- Failure date
- 1985-03-08
- FDIC resolution date
- 1985-03-08
- 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
- $16M
- Assets at failure
- $16M
- Acquiring bank
- CITIZENS SAVINGS BANK (AFTON, IA)
Other banks CITIZENS SAVINGS BANK acquired in FDIC resolutions