Bank failure · MN
Swift County Bank (Benson, MN) — failed June 14, 1985
Swift County Bank of Benson, Minnesota was closed on June 14, 1985 and resolved through a purchase and assumption. First Security Stb Sleep (MN) took over its insured deposits. At failure it held $41.6M in assets and $38.0M in deposits. The FDIC's estimated loss on the failure is $8.4M (20.2% of assets).
- Closing date
- June 14, 1985
- FDIC certificate #
- 1602
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First Security Stb Sleep
- Insurance fund
- FDIC
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