Bank failure · UT
Utah Firstbank (Salt Lake City, UT) — failed January 24, 1986
Utah Firstbank of Salt Lake City, Utah was closed on January 24, 1986 and resolved through a purchase and assumption. Citibank Utah (UT) took over its insured deposits. At failure it held $38.5M in assets and $39.6M in deposits. The FDIC's estimated loss on the failure is $10.3M (26.8% of assets).
- Closing date
- January 24, 1986
- FDIC certificate #
- 22715
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Citibank Utah
- Insurance fund
- FDIC
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