Bank failure · UT

Sandy State Bank (Sandy, UT) — failed May 27, 1988

Sandy State Bank of Sandy, Utah was closed on May 27, 1988 and resolved through a purchase and assumption. Zions First National Ban (UT) took over its insured deposits. At failure it held $8.9M in assets and $8.0M in deposits. The FDIC's estimated loss on the failure is $1.9M (21.5% of assets).