FIRST BANK & TRUST Failed 1985

TRACY CITY, TN · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

FIRST BANK & TRUST of TRACY CITY, TN was closed on 1985-06-28. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to FIRST NB OF SHELBYVILLE (SHELBYVILLE, TN). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
1024
FDIC Certificate
4968
FDIC FIN
2475
Bank name
FIRST BANK & TRUST
Location
TRACY CITY, TN
Failure date
1985-06-28
FDIC resolution date
1985-06-28
Charter type
State commercial bank, non-Federal Reserve member (FDIC-supervised)
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$3M
Deposits at failure
$20M
Assets at failure
$21M
Acquiring bank
FIRST NB OF SHELBYVILLE (SHELBYVILLE, TN)