Bank failure · IA
The First National Bank of Prairie City (Prairie City, IA) — failed July 24, 1986
The First National Bank of Prairie City of Prairie City, Iowa was closed on July 24, 1986 and resolved through a purchase and assumption. Security Bank (IA) took over its insured deposits. At failure it held $18.9M in assets and $19.2M in deposits. The FDIC's estimated loss on the failure is $1.8M (9.5% of assets).
- Closing date
- July 24, 1986
- FDIC certificate #
- 4492
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Security Bank
- Insurance fund
- FDIC
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