Bank failure · IL
State Bank of Cuba (Cuba, IL) — failed January 9, 1987
State Bank of Cuba of Cuba, Illinois was closed on January 9, 1987 and resolved through a purchase and assumption. National Bank of Canton (IL) took over its insured deposits. At failure it held $18.3M in assets and $17.7M in deposits. The FDIC's estimated loss on the failure is $2.5M (13.5% of assets).
- Closing date
- January 9, 1987
- FDIC certificate #
- 12548
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- National Bank of Canton
- Insurance fund
- FDIC
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