Bank failure · MN
Todd County State Bank (Long Prairie, MN) — failed May 14, 1987
Todd County State Bank of Long Prairie, Minnesota was closed on May 14, 1987 and resolved through a purchase and assumption. First Nb of Long Prairie (MN) took over its insured deposits. At failure it held $15.4M in assets and $15.2M in deposits. The FDIC's estimated loss on the failure is $2.4M (15.3% of assets).
- Closing date
- May 14, 1987
- FDIC certificate #
- 16684
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First Nb of Long Prairie
- Insurance fund
- FDIC
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