FIRST STATE BANK OF ELGIN Failed 1985
What happened
FIRST STATE BANK OF ELGIN of ELGIN, OR was closed on 1985-04-12. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to UNITED STATES NB OF OREG (PORTLAND, OR). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 975
- FDIC Certificate
- 16255
- FDIC FIN
- 2454
- Bank name
- FIRST STATE BANK OF ELGIN
- Location
- ELGIN, OR
- Failure date
- 1985-04-12
- FDIC resolution date
- 1985-04-12
- 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.)
- $5M
- Deposits at failure
- $16M
- Assets at failure
- $18M
- Acquiring bank
- UNITED STATES NB OF OREG (PORTLAND, OR)
Other banks UNITED STATES NB OF OREG acquired in FDIC resolutions