First Trust Bank of Lakefield

Status:Inactive as of 1985-05-31
 Absorption - Assisted
Corrections
Successor Bank:First National Bank
Headquarters:First Trust Bank of Lakefield
406 Main Street
Lakefield, MN 56150
Established:1800-01-01
FDIC Insurance:1934-01-01
FDIC Cert:#5177
Charter Class:Commercial bank, state charter and Fed nonmember, supervised by the FDIC
# of Branches:1
Total Assets:$24,288,000
Total Deposits:$22,126,000

History

1800-01-01Institution established: Original name:First National Bank in Lakefield
1980-06-23Changed name to First Trust Bank of Lakefield
1985-05-31Failed. Acquired with government financial assistance and subsequently operated as part of Fulda State Bank (25894)
1985-06-24Change trust powers from FULL TRUST POWERS GRANTED to LIMITED TRUST POWERS GRANTED
1986-12-31Change trust powers from LIMITED TRUST POWERS GRANTED to TRUST POWERS TERMINATED
1988-10-01Changed name to First National Bank (25894)
1994-06-07Moved bank headquarters from LAKEFIELD, MN to FULDA, MN
1994-09-10Acquired First National Bank (5159) in HASTINGS, MN
2011-08-29Moved bank headquarters from FULDA, MN to SLAYTON, MN
2018-11-30Moved bank headquarters from SLAYTON, MN to OLDHAM, SD
2018-11-30Acquired First American State Bank (15432) in OLDHAM, SD