# FIRST TRUST BANK OF LAKEFIELD

> **Failed bank** · LAKEFIELD, MN · failed 1985-05-31 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $9M

## What happened

FIRST TRUST BANK OF LAKEFIELD of LAKEFIELD, MN was closed by regulators 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
- **Estimated FDIC DIF cost:** $9M
- **Deposits at failure:** $22M
- **Assets at failure:** $24M
- **Acquiring bank:** FULDA STATE BANK (FULDA, MN)

## Other banks FULDA STATE BANK has acquired in FDIC resolutions

- CITIZENS STATE BANK OF FULDA (FULDA, MN) — failed 1985-02-15 — /failed-bank/963

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=FIRST%20TRUST%20BANK%20OF%20LAKEFIELD

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST TRUST BANK OF LAKEFIELD (FDIC ID 997), failed 1985-05-31. Retrieved via AI Analytics 2026-05-16 from https://api.ai-analytics.org/failed-bank/997.

---

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