# SECURITY BANK & TRUST COMPANY

> **Failed bank** · WHARTON, TX · failed 1989-05-18 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $9M

## What happened

SECURITY BANK & TRUST COMPANY of WHARTON, TX was closed by regulators on **1989-05-18**. The FDIC was named receiver.

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

Deposits were transferred to **THE FIRST NATIONAL BANK OF** (EL CAMPO, TX). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 2371
- **FDIC Certificate:** 1220
- **FDIC FIN:** 4018
- **Bank name:** SECURITY BANK & TRUST COMPANY
- **Location:** WHARTON, TX
- **Failure date:** 1989-05-18
- **FDIC resolution date:** 1989-05-18
- **Charter type:** State commercial bank, non-Federal Reserve member (FDIC-supervised)
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $9M
- **Deposits at failure:** $37M
- **Assets at failure:** $35M
- **Acquiring bank:** THE FIRST NATIONAL BANK OF (EL CAMPO, TX)

## Other banks THE FIRST NATIONAL BANK OF has acquired in FDIC resolutions

- THE WASHINGTON BANK (OF MARYLAND) (BALTIMORE, MD) — failed 1991-05-10 — /failed-bank/3094
- BOSTON TRADE BANK (BOSTON, MA) — failed 1991-05-03 — /failed-bank/3081
- THE STATE BANK OF OMAHA (OMAHA, TX) — failed 1990-12-14 — /failed-bank/2964
- UNITED PEOPLES BANK (LAMPASAS, TX) — failed 1990-10-11 — /failed-bank/2917
- MERCHANTSBANK OF BOSTON, A CO-OP (BOSTON, MA) — failed 1990-05-18 — /failed-bank/2767
- ALVORD NATIONAL BANK (ALVORD, TX) — failed 1990-03-29 — /failed-bank/2715
- LIBERTY CITY STATE BANK (LIBERTY CITY, TX) — failed 1990-03-15 — /failed-bank/2699
- FARMERS STATE BANK OF SHIRO, TEXAS (SHIRO, TX) — failed 1990-01-25 — /failed-bank/2626
- FIRST SECURITY BANK OF GLENDIVE (GLENDIVE, MT) — failed 1989-12-01 — /failed-bank/2572
- STRAWN SECURITY BANK (STRAWN, TX) — failed 1989-10-05 — /failed-bank/2517

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=SECURITY%20BANK%20%26%20TRUST%20COMPANY

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, SECURITY BANK & TRUST COMPANY (FDIC ID 2371), failed 1989-05-18. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/2371.

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