FIRST TRUST BANK OF LAKEFIELD Failed 1985
What happened
FIRST TRUST BANK OF LAKEFIELD of LAKEFIELD, MN was closed on 1985-05-31. The FDIC was named receiver.
Resolution: Insured Deposit Transfer — insured deposits transferred to another bank
Deposits were transferred to FULDA STATE BANK (FULDA, MN). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 997
- FDIC Certificate
- 5177
- FDIC FIN
- 6568
- Bank name
- FIRST TRUST BANK OF LAKEFIELD
- Location
- LAKEFIELD, MN
- Failure date
- 1985-05-31
- FDIC resolution date
- 1985-05-31
- Charter type
- State commercial bank, non-Federal Reserve member (FDIC-supervised)
- Resolution type
- Insured Deposit Transfer — insured deposits transferred to another bank
- FDIC DIF cost (est.)
- $9M
- Deposits at failure
- $22M
- Assets at failure
- $24M
- Acquiring bank
- FULDA STATE BANK (FULDA, MN)
Other banks FULDA STATE BANK acquired in FDIC resolutions