FIRST NATIONAL BANK IN KAUFMAN Failed 1991

What happened

FIRST NATIONAL BANK IN KAUFMAN of KAUFMAN, TX was closed on 1991-02-07. The FDIC was named receiver.

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

Deposits were transferred to THE FARMERS & MERCHANTS NAT (KAUFMAN, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3011

FDIC Certificate

22080

FDIC FIN

4322

Bank name

FIRST NATIONAL BANK IN KAUFMAN

Location

KAUFMAN, TX

Failure date

1991-02-07

FDIC resolution date

1991-02-07

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

$21M

Assets at failure

$20M

Acquiring bank

THE FARMERS & MERCHANTS NAT (KAUFMAN, TX)