Bank failure · UT

Bank of Ephraim (Ephraim, UT) — failed June 25, 2004

Bank of Ephraim of Ephraim, Utah was closed on June 25, 2004 and resolved through a purchase and assumption (insured deposits). Far West Bank (UT) took over its insured deposits. At failure it held $56.8M in assets and $52.3M in deposits. The FDIC's estimated loss on the failure is $3.0M (5.3% of assets).