Bank failure · AL
Rainsville Bank (Rainsville, AL) — failed May 9, 1986
Rainsville Bank of Rainsville, Alabama was closed on May 9, 1986 and resolved through a purchase and assumption. Jacobs Bank (AL) took over its insured deposits. At failure it held $17.5M in assets and $16.1M in deposits. The FDIC's estimated loss on the failure is $566K (3.2% of assets).
- Closing date
- May 9, 1986
- FDIC certificate #
- 19216
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Jacobs Bank
- Insurance fund
- FDIC
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