# PEOPLES STATE BANK

> **Failed bank** · ODEBOLT, IA · failed 1985-04-26 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $2M

## What happened

PEOPLES STATE BANK of ODEBOLT, IA was closed by regulators 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
- **Estimated FDIC DIF cost:** $2M
- **Deposits at failure:** $13M
- **Assets at failure:** $14M
- **Acquiring bank:** PEOPLES SAVINGS BANK (ODEBOLT, IA)

## Other banks PEOPLES SAVINGS BANK has acquired in FDIC resolutions

- MILFORD SAVINGS BANK (MILFORD, MA) — failed 1990-07-06 — /failed-bank/2841
- FIRST SERVICE BANK FOR SAVINGS (LEOMINSTER, MA) — failed 1989-03-31 — /failed-bank/2307

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=PEOPLES%20STATE%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, PEOPLES STATE BANK (FDIC ID 981), failed 1985-04-26. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/981.

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