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Forest City Bank closes as third Iowa failure this year
DES MOINES AP Forest City Bank and Trust Co was closed by State Banking Superintendent Edward Tubbs who cited poor supervision and bad agricultural loans. About 47 percent of its loans were agriculture related and the FDIC arranged for Liberty Bank and Trust to assume deposits and assets. Liberty Bank is a new subsidiary of Winnebago County Bancorporation.
MENTIONED IN THIS ARTICLE
Des Moines
Forest City Bank and Trust Co
Edward ‘Tubbs
Tubbs
Forest City Bank and Trust
Federal Deposit Insurance Corp
Capital
Bill Olcheski
FDIC
Liberty Bank and Trust
Forest
Winnebago County Bancorportion
Hampton
Olcheski Wainebago County Bancorporation
William Krause
Richard Wikert
Fremont
Neb
C.lson Persinger
Sioux City
Krause
Bloomfield
Odebolt
Woodbine and
Afton
New Liberty Bank and Trust
Iowa
Hayesville Savings Bank
Aredale State Bank