FIRST PEOPLES BANK OF WASHINGTON COUNTY Failed 1983

JOHNSON CITY, TN · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

FIRST PEOPLES BANK OF WASHINGTON COUNTY of JOHNSON CITY, TN was closed on 1983-07-29. The FDIC was named receiver.

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

Deposits were transferred to FIRST AMN NATL BANK-EAST (KINGSPORT, TN). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
802
FDIC Certificate
8429
FDIC FIN
2355
Bank name
FIRST PEOPLES BANK OF WASHINGTON COUNTY
Location
JOHNSON CITY, TN
Failure date
1983-07-29
FDIC resolution date
1983-07-29
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.)
$72M
Deposits at failure
$175M
Assets at failure
$178M
Acquiring bank
FIRST AMN NATL BANK-EAST (KINGSPORT, TN)