Bank failure · MN
State Bank of Greenwald (Greenwald, MN) — failed October 2, 1987
State Bank of Greenwald of Greenwald, Minnesota was closed on October 2, 1987 and resolved through a insured deposit transfer. Rural American Bk Greenw (MN) took over its insured deposits. At failure it held $23.3M in assets and $19.9M in deposits. The FDIC's estimated loss on the failure is $4.3M (18.6% of assets).
- Closing date
- October 2, 1987
- FDIC certificate #
- 12185
- Resolution
- Insured deposit transfer (failure)
- Acquiring institution
- Rural American Bk Greenw
- Insurance fund
- FDIC
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