Bank failure · IA

Commercial State Bank (Afton, IA) — failed March 8, 1985

Commercial State Bank of Afton, Iowa was closed on March 8, 1985 and resolved through a purchase and assumption. Citizens Savings Bank (IA) took over its insured deposits. At failure it held $16.3M in assets and $15.6M in deposits. The FDIC's estimated loss on the failure is $3.0M (18.2% of assets).