FIRST STATE BANK OF MCKINNEY Failed 1989
What happened
FIRST STATE BANK OF MCKINNEY of MCKINNEY, 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 BANK (FARMERSVILLE, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2483
- FDIC Certificate
- 20297
- FDIC FIN
- 4068
- Bank name
- FIRST STATE BANK OF MCKINNEY
- Location
- MCKINNEY, 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.)
- $4M
- Deposits at failure
- $20M
- Assets at failure
- $18M
- Acquiring bank
- FIRST BANK (FARMERSVILLE, TX)
Other banks FIRST BANK acquired in FDIC resolutions
- THE BANK OF ASHEVILLE (ASHEVILLE, NC) — failed 2011-01-21
- COOPERATIVE BANK (WILMINGTON, NC) — failed 2009-06-19
- BUCHEL BANK & TRUST CO. (CUERO, TX) — failed 1991-08-22
- FARMERS STATE BANK OF MADISONVILLLE (MADISONVILLE, TX) — failed 1990-11-29
- CITIZENS NATIONAL BANK (EL CAMPO, TX) — failed 1990-08-30
- FARMERS STATE BANK OF BROOKSHIRE (BROOKSHIRE, TX) — failed 1990-05-24
- FARMERS STATE BANK (SCHULENBERG, TX) — failed 1990-03-08
- KATY NATIONAL BANK (KATY, TX) — failed 1989-05-04
- FIRST CAPITOL BANK (WEST COLUMBIA, TX) — failed 1988-07-28
- THE FIRST NATIONAL BANK OF NAVASOTA (NAVASOTA, TX) — failed 1987-08-13