Bank failure · UT
The Citizens Bank (Ogden, UT) — failed October 18, 1985
The Citizens Bank of Ogden, Utah was closed on October 18, 1985 and resolved through a purchase and assumption. Commercial Security Bank (UT) took over its insured deposits. At failure it held $93.5M in assets and $85.5M in deposits. The FDIC's estimated loss on the failure is $33.9M (36.3% of assets).
- Closing date
- October 18, 1985
- FDIC certificate #
- 19383
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Commercial Security Bank
- Insurance fund
- FDIC
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