Bank failure · IA
Banc Iowa Federal Savings Bank (Cedar Rapids, IA) — failed October 16, 1989
Banc Iowa Federal Savings Bank of Cedar Rapids, Iowa was closed on October 16, 1989 and resolved through a purchase and assumption. Branch Sale (NA) took over its insured deposits. At failure it held $161.9M in assets and $140.2M in deposits. The FDIC's estimated loss on the failure is $21.9M (13.5% of assets).
- Closing date
- October 16, 1989
- FDIC certificate #
- 29870
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Branch Sale
- Insurance fund
- RTC
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