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834

On Friday, November 3, 2023, Citizens Bank was closed by the Iowa Division of Banking. The Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed. Iowa Trust & Savings Bank, Emmetsburg, IA, assumed all deposit accounts and substantially all the assets. All shares of stock were owned by the holding company, which was not involved in this transaction.

On Friday, November 3, 2023, Citizens Bank was closed by the Iowa Division of Banking. The Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed. Iowa Trust & Savings Bank, Emmetsburg, IA, assumed all deposit accounts and substantially all the assets. All shares of stock were owned by the holding company, which was not involved in this transaction.

(post is archived)

[–] • 1 pt

This Citizens? https://www.citizensbank.com/homepage.aspx

They were bigger than just Iowa?

[–] • 2 pts (edited )

Yes that Citizens. Yes they were bigger than Iowa. Iowa is the banking division that closed them, I think in one area (I am still looking into how far that actually reaches). Their assets were acquired by the Iowa Trust & Savings Bank. I am thinking its only the one small portion of it. Not the entire bank.

[–] • 1 pt

Damn I used to have an account there. Years ago. Fuckin banks ought to be illegal

[–] • 1 pt

Related to ach crap this week?

[–] • 0 pt

No idea on that. I know it happened the same time.

[–] • 1 pt

I am probably crazy but it seems like an interesting method to stop withdrawals.