Bank failure · IA

Mingo Trust & Savings Bank (Mingo, IA) — failed September 1, 1988

Mingo Trust & Savings Bank of Mingo, Iowa was closed on September 1, 1988 and resolved through a purchase and assumption. Exchange State Bank (IA) took over its insured deposits. At failure it held $12.1M in assets and $11.4M in deposits. The FDIC's estimated loss on the failure is $775K (6.4% of assets).