# COVE STATE BANK

> **Failed bank** · COPPERAS COVE, TX · failed 1990-04-19 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $6M

## What happened

COVE STATE BANK of COPPERAS COVE, TX was closed by regulators on **1990-04-19**. The FDIC was named receiver.

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

Deposits were transferred to **THE NATIONAL BANK OF GATESV** (GATESVILLE, TX). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 2729
- **FDIC Certificate:** 18110
- **FDIC FIN:** 4185
- **Bank name:** COVE STATE BANK
- **Location:** COPPERAS COVE, TX
- **Failure date:** 1990-04-19
- **FDIC resolution date:** 1990-04-19
- **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:** $6M
- **Deposits at failure:** $37M
- **Assets at failure:** $37M
- **Acquiring bank:** THE NATIONAL BANK OF GATESV (GATESVILLE, TX)

## Other banks THE NATIONAL BANK OF GATESV has acquired in FDIC resolutions

- PEOPLES BANK (HEWITT, TX) — failed 1991-06-13 — /failed-bank/3127

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, COVE STATE BANK (FDIC ID 2729), failed 1990-04-19. Retrieved via AI Analytics 2026-06-26 from https://api.ai-analytics.org/failed-bank/2729.

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