Bank failure · IA
Citizens Bank (Sac City, IA) — failed November 3, 2023
Citizens Bank of Sac City, Iowa was closed on November 3, 2023 and resolved through a purchase and assumption. Iowa Trust & Savings Bank (IA) took over its insured deposits. At failure it held $60.4M in assets and $52.3M in deposits. The FDIC's estimated loss on the failure is $12.5M (20.6% of assets).
- Closing date
- November 3, 2023
- FDIC certificate #
- 8758
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Iowa Trust & Savings Bank
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials