Bank failure · ND

The Farmers and Merchants Bank of Sheyenne (Sheyenne, ND) — failed October 26, 1990

The Farmers and Merchants Bank of Sheyenne of Sheyenne, North Dakota was closed on October 26, 1990 and resolved through a purchase and assumption. The Ramsey National Bank an (ND) took over its insured deposits. At failure it held $2.9M in assets and $2.9M in deposits. The FDIC's estimated loss on the failure is $826K (28.5% of assets).