PEOPLE'S BANK & TRUST Failed 1996

BORGER, TX · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

PEOPLE'S BANK & TRUST of BORGER, TX was closed on 1996-05-31. The FDIC was named receiver.

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

Deposits were transferred to BOATMEN'S FIRST NB OF AMARI (AMARILLO, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
3507
FDIC Certificate
18662
FDIC FIN
4626
Bank name
PEOPLE'S BANK & TRUST
Location
BORGER, TX
Failure date
1996-05-31
FDIC resolution date
1996-05-31
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.)
$3M
Deposits at failure
$22M
Assets at failure
$23M
Acquiring bank
BOATMEN'S FIRST NB OF AMARI (AMARILLO, TX)