# PEOPLE'S BANK & TRUST

> **Failed bank** · BORGER, TX · failed 1996-05-31 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $3M

## What happened

PEOPLE'S BANK & TRUST of BORGER, TX was closed by regulators 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
- **Estimated FDIC DIF cost:** $3M
- **Deposits at failure:** $22M
- **Assets at failure:** $23M
- **Acquiring bank:** BOATMEN'S FIRST NB OF AMARI (AMARILLO, TX)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=PEOPLE'S%20BANK%20%26%20TRUST

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, PEOPLE'S BANK & TRUST (FDIC ID 3507), failed 1996-05-31. Retrieved via AI Analytics 2026-07-04 from https://api.ai-analytics.org/failed-bank/3507.

---

*[FDIC failures dataset](/datasets/fdic-failures) · CC0 1.0*