Bank failure · MN

Watson State Bank (Watson, MN) — failed September 30, 1988

Watson State Bank of Watson, Minnesota was closed on September 30, 1988 and resolved through a purchase and assumption. Minnwest Bank Montevideo (MN) took over its insured deposits. At failure it held $13.7M in assets and $12.9M in deposits. The FDIC's estimated loss on the failure is $5.1M (37.2% of assets).