Bank failure · UT
Bank of Iron County (Parowan, UT) — failed April 10, 1987
Bank of Iron County of Parowan, Utah was closed on April 10, 1987 and resolved through a purchase and assumption. Dixie State Bank (UT) took over its insured deposits. At failure it held $19.8M in assets and $19.5M in deposits. The FDIC's estimated loss on the failure is $3.8M (18.9% of assets).
- Closing date
- April 10, 1987
- FDIC certificate #
- 16617
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Dixie State Bank
- Insurance fund
- FDIC
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