Bank failure · UT
Rocky Mountain State Bank (Salt Lake City, UT) — failed August 28, 1987
Rocky Mountain State Bank of Salt Lake City, Utah was closed on August 28, 1987 and resolved through a purchase and assumption. Citibank Utah (UT) took over its insured deposits. At failure it held $18.6M in assets and $17.9M in deposits. The FDIC's estimated loss on the failure is $3.0M (16.2% of assets).
- Closing date
- August 28, 1987
- FDIC certificate #
- 22222
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Citibank Utah
- Insurance fund
- FDIC
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