CHESTER STATE BANK Failed 1985
What happened
CHESTER STATE BANK of CHESTER, TX was closed on 1985-11-22. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to BANK OF EAST TEXAS (CHESTER, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1102
- FDIC Certificate
- 11931
- FDIC FIN
- 2517
- Bank name
- CHESTER STATE BANK
- Location
- CHESTER, TX
- Failure date
- 1985-11-22
- FDIC resolution date
- 1985-11-22
- 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.)
- $2M
- Deposits at failure
- $11M
- Assets at failure
- $12M
- Acquiring bank
- BANK OF EAST TEXAS (CHESTER, TX)