Bank failure · MN

Citizens State Bank (Hayfield, MN) — failed January 27, 1988

Citizens State Bank of Hayfield, Minnesota was closed on January 27, 1988 and resolved through a a/a. Citizens State Bank (MN) took over its insured deposits. At failure it held $28.0M in assets and $28.6M in deposits. The FDIC's estimated loss on the failure is $783K (2.8% of assets).