# FARMERS STATE BANK

> **Failed bank** · SCHULENBERG, TX · failed 1990-03-08 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $7M

## What happened

FARMERS STATE BANK of SCHULENBERG, TX was closed by regulators 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
- **Estimated FDIC DIF cost:** $7M
- **Deposits at failure:** $33M
- **Assets at failure:** $33M
- **Acquiring bank:** FIRST BANK (NAVASOTA, TX)

## Other banks FIRST BANK has acquired in FDIC resolutions

- THE BANK OF ASHEVILLE (ASHEVILLE, NC) — failed 2011-01-21 — /failed-bank/3896
- COOPERATIVE BANK (WILMINGTON, NC) — failed 2009-06-19 — /failed-bank/3632
- BUCHEL BANK & TRUST CO. (CUERO, TX) — failed 1991-08-22 — /failed-bank/3166
- FARMERS STATE BANK OF MADISONVILLLE (MADISONVILLE, TX) — failed 1990-11-29 — /failed-bank/2943
- CITIZENS NATIONAL BANK (EL CAMPO, TX) — failed 1990-08-30 — /failed-bank/2886
- FARMERS STATE BANK OF BROOKSHIRE (BROOKSHIRE, TX) — failed 1990-05-24 — /failed-bank/2774
- FIRST STATE BANK OF MCKINNEY (MCKINNEY, TX) — failed 1989-08-17 — /failed-bank/2483
- KATY NATIONAL BANK (KATY, TX) — failed 1989-05-04 — /failed-bank/2366
- FIRST CAPITOL BANK (WEST COLUMBIA, TX) — failed 1988-07-28 — /failed-bank/1799
- THE FIRST NATIONAL BANK OF NAVASOTA (NAVASOTA, TX) — failed 1987-08-13 — /failed-bank/1495

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FARMERS STATE BANK (FDIC ID 2689), failed 1990-03-08. Retrieved via AI Analytics 2026-07-04 from https://api.ai-analytics.org/failed-bank/2689.

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