# NEW ULM STATE BANK

> **Failed bank** · NEW ULM, TX · failed 1989-06-29 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $3M

## What happened

NEW ULM STATE BANK of NEW ULM, TX was closed by regulators 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
- **Estimated FDIC DIF cost:** $3M
- **Deposits at failure:** $12M
- **Assets at failure:** $12M
- **Acquiring bank:** INDUSTRY STATE BANK (INDUSTRY, TX)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=NEW%20ULM%20STATE%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, NEW ULM STATE BANK (FDIC ID 2397), failed 1989-06-29. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/2397.

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