OCC Closes The First National Bank of Blanchardville and Appoints FDIC Receiver

 

WASHINGTON – The First National Bank of Blanchardville, Blanchardville, Wisconsin, was closed today by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation was appointed receiver.

 

The OCC acted after finding that the Bank, which had assets of approximately $29 million, was unlikely to be able to pay its obligations or meet depositor demands.

 

The FDIC will release information about the resolution of the Bank.

 

 

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The OCC charters, regulates and examines approximately 2,100 national banks and 52 federal branches of foreign banks in the U.S., accounting for more than 55 percent of the nation’s banking assets. Its mission is to ensure a safe and sound and competitive national banking system that supports the citizens, communities and economy of the United States.