Bank failure · IN
Morocco State Bank (Morocco, IN) — failed March 20, 1987
Morocco State Bank of Morocco, Indiana was closed on March 20, 1987 and resolved through a purchase and assumption. De Motte State Bank (IN) took over its insured deposits. At failure it held $16.3M in assets and $15.8M in deposits. The FDIC's estimated loss on the failure is $1.7M (10.5% of assets).
- Closing date
- March 20, 1987
- FDIC certificate #
- 13095
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- De Motte State Bank
- Insurance fund
- FDIC
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