FIRST STATE BANK Failed 1989

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

What happened

FIRST STATE BANK of LIBERTY, TX was closed on 1989-08-17. The FDIC was named receiver.

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

Deposits were transferred to FIRST CITY, TEXAS-BEAUMONT, (BEAUMONT, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
2482
FDIC Certificate
11158
FDIC FIN
4066
Bank name
FIRST STATE BANK
Location
LIBERTY, TX
Failure date
1989-08-17
FDIC resolution date
1989-08-17
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.)
$18M
Deposits at failure
$61M
Assets at failure
$62M
Acquiring bank
FIRST CITY, TEXAS-BEAUMONT, (BEAUMONT, TX)