Bank Failure
CITIZENS BANK
Closed November 3, 2023 · SAC CITY , IA · FDIC Cert #8758 .
- Closing date
- November 3, 2023
- Headquarters
- SAC CITY , IA
- FDIC Certificate
- 8758
- Total assets at closing
- $60,448,000
- Total deposits at closing
- $52,311,000
- Estimated loss to DIF
- $14,596,000
- Resolution type
- other
- Acquirer
- IOWA TRUST & SAVINGS BANK (FDIC Cert #10545)
Context
On November 3, 2023, regulators closed CITIZENS BANK , headquartered in SAC CITY , IA . At closing, the institution held approximately $60,448,000 in assets and $52,311,000 in deposits . The FDIC arranged a resolution under which IOWA TRUST & SAVINGS BANK acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $14,596,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 2023
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 2023-07-28 | HEARTLAND TRI-STATE BANK | ELKHART , KS | $139,446,000 |
| 2023-05-01 | FIRST REPUBLIC BANK | SAN FRANCISCO , CA | $212,638,872,000 |
| 2023-03-12 | SIGNATURE BANK | NEW YORK , NY | $110,363,650,000 |
| 2023-03-10 | SILICON VALLEY BANK | SANTA CLARA , CA | $209,026,000,000 |
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