Bank failure · MN

Citizens State Bk of Gibbon (Gibbon, MN) — failed March 18, 1988

Citizens State Bk of Gibbon of Gibbon, Minnesota was closed on March 18, 1988 and resolved through a purchase and assumption. Minnesota Valley Bank (MN) took over its insured deposits. At failure it held $15.1M in assets and $14.8M in deposits. The FDIC's estimated loss on the failure is $4.1M (27.5% of assets).