FIRST STATE BANK Failed 1989

What happened

FIRST STATE BANK of DEANVILLE, TX was closed on 1989-04-20. The FDIC was named receiver.

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

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

Key facts

FDIC ID

2356

FDIC Certificate

17020

FDIC FIN

4007

Bank name

FIRST STATE BANK

Location

DEANVILLE, TX

Failure date

1989-04-20

FDIC resolution date

1989-04-20

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.)

$1M

Deposits at failure

$9M

Assets at failure

$9M

Acquiring bank

CITIZENS STATE BANK (SOMERVILLE, TX)

Other banks CITIZENS STATE BANK acquired in FDIC resolutions

• CITIZENS STATE BANK (PRINCETON, TX) — failed 1992-12-10
• BURLESON COUNTY SAVINGS ASSOC. (CALDWELL, TX) — failed 1991-05-31
• PEOPLES NATIONAL BANK (CALDWELL, TX) — failed 1990-06-21
• FIRST-TAYLOR NATIONAL BANK (TAYLOR, TX) — failed 1990-05-17
• CITIZENS STATE BANK (HAYFIELD, MN) — failed 1988-01-27
• COMMERCIAL STATE BANK (POCAHONTAS, IA) — failed 1986-06-27
• THE FIRST NATIONAL BANK OF GORMAN (GORMAN, TX) — failed 1986-02-27