# THE FIRST STATE BANK

> **Failed bank** · FRISCO, TX · failed 1987-06-04 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $10M

## What happened

THE FIRST STATE BANK of FRISCO, TX was closed by regulators on **1987-06-04**. The FDIC was named receiver.

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

Deposits were transferred to **PROMENADE NATIONAL BANK** (RICHARDSON, TX). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1444
- **FDIC Certificate:** 16605
- **FDIC FIN:** 2693
- **Bank name:** THE FIRST STATE BANK
- **Location:** FRISCO, TX
- **Failure date:** 1987-06-04
- **FDIC resolution date:** 1987-06-04
- **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:** $10M
- **Deposits at failure:** $43M
- **Assets at failure:** $43M
- **Acquiring bank:** PROMENADE NATIONAL BANK (RICHARDSON, TX)

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, THE FIRST STATE BANK (FDIC ID 1444), failed 1987-06-04. Retrieved via AI Analytics 2026-06-25 from https://api.ai-analytics.org/failed-bank/1444.

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