Bank failure · MN

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

First Fs&la of Hibbing of Hibbing, 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 $47.3M in assets and $67.2M in deposits. The FDIC's estimated loss on the failure is $32.2M (68.2% of assets).