Bank failure · CO

First Industrial Bank of Rocky Ford (Rocky Ford, CO) — failed December 16, 1988

First Industrial Bank of Rocky Ford of Rocky Ford, Colorado was closed on December 16, 1988 and resolved through a purchase and assumption. First Nb of Ordway (CO) took over its insured deposits. At failure it held $12.5M in assets and $11.4M in deposits. The FDIC's estimated loss on the failure is $6.7M (53.6% of assets).