THE WOLFE CITY NATIONAL BANK Failed 1993

What happened

THE WOLFE CITY NATIONAL BANK of WOLFE CITY, TX was closed on 1993-07-29. The FDIC was named receiver.

Resolution: Payout / Insured deposits — FDIC paid insured deposits directly to depositors

Deposits were transferred to SULPHUR SPRINGS STATE BA (SULPHUR SPRINGS, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3469

FDIC Certificate

5592

FDIC FIN

4593

Bank name

THE WOLFE CITY NATIONAL BANK

Location

WOLFE CITY, TX

Failure date

1993-07-29

FDIC resolution date

1993-07-29

Charter type

National commercial bank (OCC-chartered)

Resolution type

Payout / Insured deposits — FDIC paid insured deposits directly to depositors

FDIC DIF cost (est.)

$5M

Deposits at failure

$32M

Assets at failure

$30M

Acquiring bank

SULPHUR SPRINGS STATE BA (SULPHUR SPRINGS, TX)