THE KERENS BANK Failed 1991
What happened
THE KERENS BANK of KERENS, TX was closed on 1991-07-25. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to CEDAR CREEK BANK (SEVEN POINTS, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3148
- FDIC Certificate
- 3283
- FDIC FIN
- 4379
- Bank name
- THE KERENS BANK
- Location
- KERENS, TX
- Failure date
- 1991-07-25
- FDIC resolution date
- 1991-07-25
- Charter type
- State commercial bank, non-Federal Reserve member (FDIC-supervised)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $5M
- Deposits at failure
- $20M
- Assets at failure
- $20M
- Acquiring bank
- CEDAR CREEK BANK (SEVEN POINTS, TX)