# FARMERS SAVINGS BANK

> **Failed bank** · MASSENA, IA · failed 1985-05-03 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $6M

## What happened

FARMERS SAVINGS BANK of MASSENA, IA was closed by regulators 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
- **Estimated FDIC DIF cost:** $6M
- **Deposits at failure:** $15M
- **Assets at failure:** $17M
- **Acquiring bank:** UNION NATIONAL BANK (MASSENA, IA)

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FARMERS SAVINGS BANK (FDIC ID 989), failed 1985-05-03. Retrieved via AI Analytics 2026-05-16 from https://api.ai-analytics.org/failed-bank/989.

---

*[FDIC failures dataset](/datasets/fdic-failures) · CC0 1.0*