THE FIRST NATIONAL BANK OF SPRINGFIELD Failed 1985

What happened

THE FIRST NATIONAL BANK OF SPRINGFIELD of SPRINGFIELD, CO was closed on 1985-04-18. The FDIC was named receiver.

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

Deposits were transferred to BACA STATE BANK (SPRINGFIELD, CO). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

978

FDIC Certificate

3057

FDIC FIN

2457

Bank name

THE FIRST NATIONAL BANK OF SPRINGFIELD

Location

SPRINGFIELD, CO

Failure date

1985-04-18

FDIC resolution date

1985-04-18

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

$14M

Assets at failure

$15M

Acquiring bank

BACA STATE BANK (SPRINGFIELD, CO)