Bank failure · IA
Polk County Bank (Johnston, IA) — failed November 18, 2011
Polk County Bank of Johnston, Iowa was closed on November 18, 2011 and resolved through a purchase and assumption. Grinnell State Bank (IA) took over its insured deposits. At failure it held $91.6M in assets and $82.0M in deposits. The FDIC's estimated loss on the failure is $16.1M (17.5% of assets).
- Closing date
- November 18, 2011
- FDIC certificate #
- 14194
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Grinnell State Bank
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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