Bank failure · AL
The Peoples Bank (Collinsville, AL) — failed April 22, 1987
The Peoples Bank of Collinsville, Alabama was closed on April 22, 1987 and resolved through a purchase and assumption. Bank of Geraldine (AL) took over its insured deposits. At failure it held $11.9M in assets and $11.9M in deposits. The FDIC's estimated loss on the failure is $934K (7.9% of assets).
- Closing date
- April 22, 1987
- FDIC certificate #
- 76
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Bank of Geraldine
- Insurance fund
- FDIC
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