Bank failure · MN
The Lee State Bank (Browerville, MN) — failed November 9, 1989
The Lee State Bank of Browerville, Minnesota was closed on November 9, 1989 and resolved through a purchase and assumption. First National Bank of Long (MN) took over its insured deposits. At failure it held $13.4M in assets and $13.5M in deposits. The FDIC's estimated loss on the failure is $2.7M (19.8% of assets).
- Closing date
- November 9, 1989
- FDIC certificate #
- 15080
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First National Bank of Long
- Insurance fund
- BIF
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