Bank failure · IA

Forest City Bank & Trust Co. (Forest City, IA) — failed May 6, 1988

Forest City Bank & Trust Co. of Forest City, Iowa was closed on May 6, 1988 and resolved through a purchase and assumption. Liberty Bank&trust (IA) took over its insured deposits. At failure it held $26.6M in assets and $26.5M in deposits. The FDIC's estimated loss on the failure is $733K (2.8% of assets).