Bank failure · MN

First Fs&la of Grand Rapids (Grand Rapids, MN) — failed August 26, 1988

First Fs&la of Grand Rapids of Grand Rapids, Minnesota was closed on August 26, 1988 and resolved through a a/a. First Fs&la of Brainerd (MN) took over its insured deposits. At failure it held $105.9M in assets and $96.9M in deposits. The FDIC's estimated loss on the failure is $44.6M (42.1% of assets).