Bank failure · IA

Aredale State Bank (Aredale, IA) — failed January 20, 1988

Aredale State Bank of Aredale, Iowa was closed on January 20, 1988 and resolved through a purchase and assumption. First Security Bank&trus (IA) took over its insured deposits. At failure it held $9.6M in assets and $9.1M in deposits. The FDIC's estimated loss on the failure is $313K (3.2% of assets).