FARMERS SAVINGS BANK Failed 1985

MASSENA, IA · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

FARMERS SAVINGS BANK of MASSENA, IA was closed on 1985-05-03. The FDIC was named receiver.

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

Deposits were transferred to UNION NATIONAL BANK (MASSENA, IA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
989
FDIC Certificate
16573
FDIC FIN
2460
Bank name
FARMERS SAVINGS BANK
Location
MASSENA, IA
Failure date
1985-05-03
FDIC resolution date
1985-05-03
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.)
$6M
Deposits at failure
$15M
Assets at failure
$17M
Acquiring bank
UNION NATIONAL BANK (MASSENA, IA)