Bank failure · IA

First National Bank of Tipton (Tipton, IA) — failed February 14, 1986

First National Bank of Tipton of Tipton, Iowa was closed on February 14, 1986 and resolved through a purchase and assumption. Citizens Savings Bank (IA) took over its insured deposits. At failure it held $17.9M in assets and $18.0M in deposits. The FDIC's estimated loss on the failure is $665K (3.7% of assets).