# FIRST BANK OF SAGINAW

> **Failed bank** · SAGINAW, TX · failed 1987-04-16 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $8M

## What happened

FIRST BANK OF SAGINAW of SAGINAW, TX was closed by regulators on **1987-04-16**. The FDIC was named receiver.

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

Deposits were transferred to **SOUTHWEST BANK** (FORT WORTH, TX). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1416
- **FDIC Certificate:** 20724
- **FDIC FIN:** 2677
- **Bank name:** FIRST BANK OF SAGINAW
- **Location:** SAGINAW, TX
- **Failure date:** 1987-04-16
- **FDIC resolution date:** 1987-04-16
- **Charter type:** State commercial bank, non-Federal Reserve member (FDIC-supervised)
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $8M
- **Deposits at failure:** $30M
- **Assets at failure:** $31M
- **Acquiring bank:** SOUTHWEST BANK (FORT WORTH, TX)

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST BANK OF SAGINAW (FDIC ID 1416), failed 1987-04-16. Retrieved via AI Analytics 2026-07-16 from https://api.ai-analytics.org/failed-bank/1416.

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