PEOPLES STATE BANK Failed 1985
What happened
PEOPLES STATE BANK of ODEBOLT, IA was closed on 1985-04-26. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to PEOPLES SAVINGS BANK (ODEBOLT, IA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 981
- FDIC Certificate
- 12414
- FDIC FIN
- 2458
- Bank name
- PEOPLES STATE BANK
- Location
- ODEBOLT, IA
- Failure date
- 1985-04-26
- FDIC resolution date
- 1985-04-26
- 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.)
- $2M
- Deposits at failure
- $13M
- Assets at failure
- $14M
- Acquiring bank
- PEOPLES SAVINGS BANK (ODEBOLT, IA)
Other banks PEOPLES SAVINGS BANK acquired in FDIC resolutions