MERCHANTS STATE BANK Failed 1989

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

What happened

MERCHANTS STATE BANK of DALLAS, TX was closed on 1989-01-19. The FDIC was named receiver.

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

Deposits were transferred to GRAND BANK (DALLAS, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
2074
FDIC Certificate
16374
FDIC FIN
2958
Bank name
MERCHANTS STATE BANK
Location
DALLAS, TX
Failure date
1989-01-19
FDIC resolution date
1989-01-19
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.)
$21M
Deposits at failure
$125M
Assets at failure
$122M
Acquiring bank
GRAND BANK (DALLAS, TX)