FIRST CONSOLIDATED BANK - HILLSBORO Failed 1989

What happened

FIRST CONSOLIDATED BANK - HILLSBORO of HILLSBORO, TX was closed on 1989-10-20. The FDIC was named receiver.

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

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

Key facts

FDIC ID

2537

FDIC Certificate

3123

FDIC FIN

4107

Bank name

FIRST CONSOLIDATED BANK - HILLSBORO

Location

HILLSBORO, TX

Failure date

1989-10-20

FDIC resolution date

1989-10-20

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$2M

Deposits at failure

$11M

Assets at failure

$11M

Acquiring bank

FIRST STATE BANK, HUBBARD, (HUBBARD, TX)