THE FARMERS & MERCHANTS STATE BANK Failed 1989
What happened
THE FARMERS & MERCHANTS STATE BANK of BALLINGER, TX was closed on 1989-03-16. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to THE FIRST NATIONAL BANK OF (ROTAN, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2222
- FDIC Certificate
- 11893
- FDIC FIN
- 2977
- Bank name
- THE FARMERS & MERCHANTS STATE BANK
- Location
- BALLINGER, TX
- Failure date
- 1989-03-16
- FDIC resolution date
- 1989-03-16
- 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.)
- $2M
- Deposits at failure
- $22M
- Assets at failure
- $23M
- Acquiring bank
- THE FIRST NATIONAL BANK OF (ROTAN, TX)
Other banks THE FIRST NATIONAL BANK OF acquired in FDIC resolutions
- THE WASHINGTON BANK (OF MARYLAND) (BALTIMORE, MD) — failed 1991-05-10
- BOSTON TRADE BANK (BOSTON, MA) — failed 1991-05-03
- THE STATE BANK OF OMAHA (OMAHA, TX) — failed 1990-12-14
- UNITED PEOPLES BANK (LAMPASAS, TX) — failed 1990-10-11
- MERCHANTSBANK OF BOSTON, A CO-OP (BOSTON, MA) — failed 1990-05-18
- ALVORD NATIONAL BANK (ALVORD, TX) — failed 1990-03-29
- LIBERTY CITY STATE BANK (LIBERTY CITY, TX) — failed 1990-03-15
- FARMERS STATE BANK OF SHIRO, TEXAS (SHIRO, TX) — failed 1990-01-25
- FIRST SECURITY BANK OF GLENDIVE (GLENDIVE, MT) — failed 1989-12-01
- STRAWN SECURITY BANK (STRAWN, TX) — failed 1989-10-05