FIRST NB OF THE PANHANDLE Failed 1996

What happened

FIRST NB OF THE PANHANDLE of PANHANDLE, TX was closed on 1996-06-14. The FDIC was named receiver.

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

Deposits were transferred to SUN BANK (SUNRAY, TX). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3508

FDIC Certificate

3382

FDIC FIN

4627

Bank name

FIRST NB OF THE PANHANDLE

Location

PANHANDLE, TX

Failure date

1996-06-14

FDIC resolution date

1996-06-14

Charter type

National commercial bank (OCC-chartered)

Resolution type

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

FDIC DIF cost (est.)

$16M

Deposits at failure

$68M

Assets at failure

$68M

Acquiring bank

SUN BANK (SUNRAY, TX)