Bank failure · IA
Latimer Bank & Trust (Latimer, IA) — failed January 15, 1987
Latimer Bank & Trust of Latimer, Iowa was closed on January 15, 1987 and resolved through a purchase and assumption. First Nb of Clarion (IA) took over its insured deposits. At failure it held $23.2M in assets and $22.0M in deposits. The FDIC's estimated loss on the failure is $3.2M (13.9% of assets).
- Closing date
- January 15, 1987
- FDIC certificate #
- 17475
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First Nb of Clarion
- Insurance fund
- FDIC
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