NEW ULM STATE BANK Failed 1989

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

What happened

NEW ULM STATE BANK of NEW ULM, TX was closed on 1989-06-29. The FDIC was named receiver.

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

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

Key facts

FDIC ID
2397
FDIC Certificate
11926
FDIC FIN
4029
Bank name
NEW ULM STATE BANK
Location
NEW ULM, TX
Failure date
1989-06-29
FDIC resolution date
1989-06-29
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
$12M
Assets at failure
$12M
Acquiring bank
INDUSTRY STATE BANK (INDUSTRY, TX)