THE FIRST STATE BANK Failed 1988
What happened
THE FIRST STATE BANK of ROCKWALL, TX was closed on 1988-05-26. The FDIC was named receiver.
Resolution: Insured Deposit Transfer — insured deposits transferred to another bank
Deposits were transferred to COMMUNITY BANK (ROCKWALL, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1758
- FDIC Certificate
- 15909
- FDIC FIN
- 5940
- Bank name
- THE FIRST STATE BANK
- Location
- ROCKWALL, TX
- Failure date
- 1988-05-26
- FDIC resolution date
- 1988-05-26
- Charter type
- State commercial bank, non-Federal Reserve member (FDIC-supervised)
- Resolution type
- Insured Deposit Transfer — insured deposits transferred to another bank
- FDIC DIF cost (est.)
- $15M
- Deposits at failure
- $40M
- Assets at failure
- $40M
- Acquiring bank
- COMMUNITY BANK (ROCKWALL, TX)
Other banks COMMUNITY BANK acquired in FDIC resolutions