Data / Bank failures / 2023 / Citizens Bank
Citizens Bank, Sac City, IA: failed November 3, 2023
Citizens Bank in Sac City, Iowa, failed on November 3, 2023. Iowa Trust & Savings Bank of Emmetsburg, IA, took over its deposits. It held $60.4 million in assets and $52.3 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $12.5 million (20.6% of its assets). By assets it was the 5th largest of 5 banks closed or assisted in 2023.
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The FDIC's record
- Closed
- November 3, 2023
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Iowa Trust & Savings Bank, Emmetsburg, IA
- Total assets
- $60,448,000
- Total deposits
- $52,311,000
- Estimated cost to the FDIC
- $12,464,630 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 8758
All bank failures in 2023 · All bank failures in Iowa · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.