THE FIRST STATE BANK Failed 1988
What happened
THE FIRST STATE BANK of CHILDRESS, TX was closed on 1988-05-12. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to CITIZENS STB OF DALHART (DALHART, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1743
- FDIC Certificate
- 12295
- FDIC FIN
- 2816
- Bank name
- THE FIRST STATE BANK
- Location
- CHILDRESS, TX
- Failure date
- 1988-05-12
- FDIC resolution date
- 1988-05-12
- 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.)
- $3M
- Deposits at failure
- $15M
- Assets at failure
- $15M
- Acquiring bank
- CITIZENS STB OF DALHART (DALHART, TX)
Other banks CITIZENS STB OF DALHART acquired in FDIC resolutions