Bank Failure
Ericson State Bank
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Closed February 14, 2020 · Ericson, NE · FDIC Cert #18265.
- Closing date
- February 14, 2020
- Headquarters
- Ericson, NE
- FDIC Certificate
- 18265
- Total assets at closing
- $100.9M
- Total deposits at closing
- $95.2M
- Estimated loss to the insurance fund
- $23.3M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Farmers and Merchants Bank
Context
On February 14, 2020, regulators closed Ericson State Bank, headquartered in Ericson, NE. At closing, the institution held approximately $100.9M in assets and $95.2M in deposits. The FDIC record names Farmers and Merchants Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $23.3M.
By assets at closing this is the 1195th largest of the 3,526 bank failures in the FDIC record, and the 3rd of 4 in 2020. It falls in the period the record labels Post-Dodd-Frank Calm (2014-2022), a period with 47 failures peaking at 18 in 2014.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Ericson State Bank fail?
Ericson State Bank was closed by regulators on February 14, 2020.
Who acquired Ericson State Bank?
The FDIC record names Farmers and Merchants Bank as the acquiring institution in the resolution of Ericson State Bank.
How big was Ericson State Bank when it failed?
Ericson State Bank had approximately $100.9M in total assets and $95.2M in deposits at the time of failure.
Other failures in 2020
| Date | Bank | Assets |
|---|---|---|
| Oct 23, 2020 | Almena State Bank | $65.7M |
| Oct 16, 2020 | First City Bank of Florida | $136.6M |
| Apr 3, 2020 | The First State Bank | $151.8M |
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