Bank failure · ND
Citizens Bank of Ray (Ray, ND) — failed October 15, 1987
Citizens Bank of Ray of Ray, North Dakota was closed on October 15, 1987 and resolved through a purchase and assumption. First Nb&t Co of Willist (ND) took over its insured deposits. At failure it held $11.7M in assets and $11.3M in deposits. The FDIC's estimated loss on the failure is $1.9M (16.1% of assets).
- Closing date
- October 15, 1987
- FDIC certificate #
- 10252
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First Nb&t Co of Willist
- Insurance fund
- FDIC
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