BURLESON COUNTY SAVINGS ASSOC. Failed 1991

What happened

BURLESON COUNTY SAVINGS ASSOC. of CALDWELL, TX was closed on 1991-05-31. 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

3120

FDIC Certificate

32126

FDIC FIN

2166

Bank name

BURLESON COUNTY SAVINGS ASSOC.

Location

CALDWELL, TX

Failure date

1991-05-31

FDIC resolution date

1992-02-28

Charter type

Savings bank

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$7M

Deposits at failure

$32M

Assets at failure

$31M

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
• PEOPLES NATIONAL BANK (CALDWELL, TX) — failed 1990-06-21
• 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