FARMERS STATE BANK Failed 1990
What happened
FARMERS STATE BANK of SCHULENBERG, TX was closed on 1990-03-08. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST BANK (NAVASOTA, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2689
- FDIC Certificate
- 18647
- FDIC FIN
- 4161
- Bank name
- FARMERS STATE BANK
- Location
- SCHULENBERG, TX
- Failure date
- 1990-03-08
- FDIC resolution date
- 1990-03-08
- 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.)
- $7M
- Deposits at failure
- $33M
- Assets at failure
- $33M
- Acquiring bank
- FIRST BANK (NAVASOTA, 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
- FIRST STATE BANK OF MCKINNEY (MCKINNEY, TX) — failed 1989-08-17
- 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