# THE FIRST NATIONAL BANK OF GORMAN

> **Failed bank** · GORMAN, TX · failed 1986-02-27 · National commercial bank (OCC-chartered) · FDIC cost $6M

## What happened

THE FIRST NATIONAL BANK OF GORMAN of GORMAN, TX was closed by the OCC on **1986-02-27**. The FDIC was named receiver.

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

Deposits were transferred to **CITIZENS STATE BANK** (GORMAN, TX). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1153
- **FDIC Certificate:** 3224
- **FDIC FIN:** 2537
- **Bank name:** THE FIRST NATIONAL BANK OF GORMAN
- **Location:** GORMAN, TX
- **Failure date:** 1986-02-27
- **FDIC resolution date:** 1986-02-27
- **Charter type:** National commercial bank (OCC-chartered)
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $6M
- **Deposits at failure:** $14M
- **Assets at failure:** $14M
- **Acquiring bank:** CITIZENS STATE BANK (GORMAN, TX)

## Other banks CITIZENS STATE BANK has acquired in FDIC resolutions

- CITIZENS STATE BANK (PRINCETON, TX) — failed 1992-12-10 — /failed-bank/3426
- BURLESON COUNTY SAVINGS ASSOC. (CALDWELL, TX) — failed 1991-05-31 — /failed-bank/3120
- PEOPLES NATIONAL BANK (CALDWELL, TX) — failed 1990-06-21 — /failed-bank/2821
- FIRST-TAYLOR NATIONAL BANK (TAYLOR, TX) — failed 1990-05-17 — /failed-bank/2766
- FIRST STATE BANK (DEANVILLE, TX) — failed 1989-04-20 — /failed-bank/2356
- CITIZENS STATE BANK (HAYFIELD, MN) — failed 1988-01-27 — /failed-bank/1611
- COMMERCIAL STATE BANK (POCAHONTAS, IA) — failed 1986-06-27 — /failed-bank/1218

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=THE%20FIRST%20NATIONAL%20BANK%20OF%20GORMAN

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, THE FIRST NATIONAL BANK OF GORMAN (FDIC ID 1153), failed 1986-02-27. Retrieved via AI Analytics 2026-07-13 from https://api.ai-analytics.org/failed-bank/1153.

---

*[FDIC failures dataset](/datasets/fdic-failures) · CC0 1.0*