Bank failure · MN

The First National Bank of Blooming Prairi (Blooming Prairie, MN) — failed July 21, 1988

The First National Bank of Blooming Prairi of Blooming Prairie, Minnesota was closed on July 21, 1988 and resolved through a purchase and assumption. First Amn Bk Blooming Pr (MN) took over its insured deposits. At failure it held $20.0M in assets and $20.0M in deposits. The FDIC's estimated loss on the failure is $2.1M (10.5% of assets).