Bank failure · MN
People'S State Bank of Mazeppa (Mazeppa, MN) — failed August 21, 1987
People'S State Bank of Mazeppa of Mazeppa, Minnesota was closed on August 21, 1987 and resolved through a insured deposit transfer. First State Bank of Red (MN) took over its insured deposits. At failure it held $21.6M in assets and $20.2M in deposits. The FDIC's estimated loss on the failure is $4.9M (22.5% of assets).
- Closing date
- August 21, 1987
- FDIC certificate #
- 9753
- Resolution
- Insured deposit transfer (failure)
- Acquiring institution
- First State Bank of Red
- Insurance fund
- FDIC
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