Bank failure · IA
The First State Bank (Rockford, IA) — failed March 4, 1987
The First State Bank of Rockford, Iowa was closed on March 4, 1987 and resolved through a purchase and assumption. First Security Bank&trus (IA) took over its insured deposits. At failure it held $15.8M in assets and $15.2M in deposits. The FDIC's estimated loss on the failure is $1.4M (9.0% of assets).
- Closing date
- March 4, 1987
- FDIC certificate #
- 9101
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First Security Bank&trus
- Insurance fund
- FDIC
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