Bank failure · MN
Lanesboro State Bank (Lanesboro, MN) — failed June 26, 1987
Lanesboro State Bank of Lanesboro, Minnesota was closed on June 26, 1987 and resolved through a purchase and assumption. Goodhue Cnty Nb of Red W (MN) took over its insured deposits. At failure it held $11.4M in assets and $11.0M in deposits. The FDIC's estimated loss on the failure is $2.3M (20.4% of assets).
- Closing date
- June 26, 1987
- FDIC certificate #
- 12190
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Goodhue Cnty Nb of Red W
- Insurance fund
- FDIC
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