FIRST STATE BANK Failed 1986
What happened
FIRST STATE BANK of MEMPHIS, TX was closed on 1986-03-27. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to MEMPHIS STATE BANK (MEMPHIS, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1165
- FDIC Certificate
- 11911
- FDIC FIN
- 2543
- Bank name
- FIRST STATE BANK
- Location
- MEMPHIS, TX
- Failure date
- 1986-03-27
- FDIC resolution date
- 1986-03-27
- 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.)
- $5M
- Deposits at failure
- $16M
- Assets at failure
- $17M
- Acquiring bank
- MEMPHIS STATE BANK (MEMPHIS, TX)
Other banks MEMPHIS STATE BANK acquired in FDIC resolutions