RED OAK STATE BANK Failed 1987
What happened
RED OAK STATE BANK of RED OAK, TX was closed on 1987-07-09. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to RED OAK STATE BANK (RED OAK, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1467
- FDIC Certificate
- 9972
- FDIC FIN
- 2707
- Bank name
- RED OAK STATE BANK
- Location
- RED OAK, TX
- Failure date
- 1987-07-09
- FDIC resolution date
- 1987-07-09
- 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.)
- $7M
- Deposits at failure
- $42M
- Assets at failure
- $44M
- Acquiring bank
- RED OAK STATE BANK (RED OAK, TX)
Other banks RED OAK STATE BANK acquired in FDIC resolutions