# RED OAK STATE BANK

> **Failed bank** · RED OAK, TX · failed 1987-07-09 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $7M

## What happened

RED OAK STATE BANK of RED OAK, TX was closed by regulators 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
- **Estimated FDIC DIF cost:** $7M
- **Deposits at failure:** $42M
- **Assets at failure:** $44M
- **Acquiring bank:** RED OAK STATE BANK (RED OAK, TX)

## Other banks RED OAK STATE BANK has acquired in FDIC resolutions

- GUARANTY BANK (DALLAS, TX) — failed 1988-06-02 — /failed-bank/1763

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, RED OAK STATE BANK (FDIC ID 1467), failed 1987-07-09. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/1467.

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