Bank failure · MO

Farmers & Merchants Bank of Elmo (Elmo, MO) — failed August 4, 1988

Farmers & Merchants Bank of Elmo of Elmo, Missouri was closed on August 4, 1988 and resolved through a purchase and assumption. First Bank of Maryville (MO) took over its insured deposits. At failure it held $9.2M in assets and $8.8M in deposits. The FDIC's estimated loss on the failure is $2.6M (28.5% of assets).