FIRST STATE BANK Failed 1989

What happened

FIRST STATE BANK of ROGERS, TX was closed on 1989-03-23. The FDIC was named receiver.

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

Deposits were transferred to THE BUCKHOLTS STATE BANK (BUCKHOLTS, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2274

FDIC Certificate

15903

FDIC FIN

2981

Bank name

FIRST STATE BANK

Location

ROGERS, TX

Failure date

1989-03-23

FDIC resolution date

1989-03-23

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

$9M

Assets at failure

$9M

Acquiring bank

THE BUCKHOLTS STATE BANK (BUCKHOLTS, TX)