Bank failure · MN

State Bank of Boyd (Boyd, MN) — failed October 24, 1984

State Bank of Boyd of Boyd, Minnesota was closed on October 24, 1984 and resolved through a purchase and assumption. State Bank of Madison (MN) took over its insured deposits. At failure it held $7.1M in assets and $6.2M in deposits. The FDIC's estimated loss on the failure is $2.8M (40.0% of assets).