GUARANTY BANK Failed 1988
What happened
GUARANTY BANK of DALLAS, TX was closed on 1988-06-02. 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
- 1763
- FDIC Certificate
- 15905
- FDIC FIN
- 2825
- Bank name
- GUARANTY BANK
- Location
- DALLAS, TX
- Failure date
- 1988-06-02
- FDIC resolution date
- 1988-06-02
- 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.)
- $41M
- Deposits at failure
- $75M
- Assets at failure
- $82M
- Acquiring bank
- RED OAK STATE BANK (RED OAK, TX)
Other banks RED OAK STATE BANK acquired in FDIC resolutions