FIRST STATE BANK Failed 1987
What happened
FIRST STATE BANK of MILFORD, TX was closed on 1987-06-11. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to ELLIS COUNTY STATE BANK (MILFORD, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1447
- FDIC Certificate
- 3346
- FDIC FIN
- 2695
- Bank name
- FIRST STATE BANK
- Location
- MILFORD, TX
- Failure date
- 1987-06-11
- FDIC resolution date
- 1987-06-11
- 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
- $7M
- Assets at failure
- $7M
- Acquiring bank
- ELLIS COUNTY STATE BANK (MILFORD, TX)