EAST TEXAS STATE BANK Failed 1988

BUNA, TX · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

EAST TEXAS STATE BANK of BUNA, TX was closed on 1988-11-17. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to FIRST NB OF BONHAM (BONHAM, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
1983
FDIC Certificate
18591
FDIC FIN
2934
Bank name
EAST TEXAS STATE BANK
Location
BUNA, TX
Failure date
1988-11-17
FDIC resolution date
1988-11-17
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.)
$5M
Deposits at failure
$21M
Assets at failure
$21M
Acquiring bank
FIRST NB OF BONHAM (BONHAM, TX)