PEOPLES NATIONAL BANK Failed 1990

What happened

PEOPLES NATIONAL BANK of CALDWELL, TX was closed on 1990-06-21. The FDIC was named receiver.

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

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

Key facts

FDIC ID

2821

FDIC Certificate

24982

FDIC FIN

4234

Bank name

PEOPLES NATIONAL BANK

Location

CALDWELL, TX

Failure date

1990-06-21

FDIC resolution date

1990-06-21

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$3M

Deposits at failure

$11M

Assets at failure

$10M

Acquiring bank

CITIZENS STATE BANK (SOMERVILLE, TX)

Other banks CITIZENS STATE BANK acquired in FDIC resolutions

• CITIZENS STATE BANK (PRINCETON, TX) — failed 1992-12-10
• BURLESON COUNTY SAVINGS ASSOC. (CALDWELL, TX) — failed 1991-05-31
• FIRST-TAYLOR NATIONAL BANK (TAYLOR, TX) — failed 1990-05-17
• FIRST STATE BANK (DEANVILLE, TX) — failed 1989-04-20
• CITIZENS STATE BANK (HAYFIELD, MN) — failed 1988-01-27
• COMMERCIAL STATE BANK (POCAHONTAS, IA) — failed 1986-06-27
• THE FIRST NATIONAL BANK OF GORMAN (GORMAN, TX) — failed 1986-02-27