FIRST STATE BANK Failed 1989

What happened

FIRST STATE BANK of HARPER, TX was closed on 1989-01-12. The FDIC was named receiver.

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

Deposits were transferred to SECURITY STATE BANK AND TRU (FREDERICKSBURG, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2066

FDIC Certificate

13440

FDIC FIN

2950

Bank name

FIRST STATE BANK

Location

HARPER, TX

Failure date

1989-01-12

FDIC resolution date

1989-01-12

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

$11M

Assets at failure

$10M

Acquiring bank

SECURITY STATE BANK AND TRU (FREDERICKSBURG, TX)