Bank Failure
East Texas NB of Marshall
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Closed July 9, 1999 · Marshall, TX · FDIC Cert #25272.
- Closing date
- July 9, 1999
- Headquarters
- Marshall, TX
- FDIC Certificate
- 25272
- Total assets at closing
- $121.6M
- Total deposits at closing
- $113.1M
- Estimated loss to the insurance fund
- $9.9M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Fredonia State Bank
Context
On July 9, 1999, regulators closed East Texas NB of Marshall, headquartered in Marshall, TX. At closing, the institution held approximately $121.6M in assets and $113.1M in deposits. The FDIC record names Fredonia State Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $9.9M.
By assets at closing this is the 1080th largest of the 3,526 bank failures in the FDIC record, and the 3rd of 8 in 1999. It falls in the period the record labels Consolidation Calm (1996-2007), a period with 50 failures peaking at 11 in 2002.
Riegle-Neal interstate-banking era. Industry consolidated rapidly via merger; failure counts dropped to single digits per year.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did East Texas NB of Marshall fail?
East Texas NB of Marshall was closed by regulators on July 9, 1999.
Who acquired East Texas NB of Marshall?
The FDIC record names Fredonia State Bank as the acquiring institution in the resolution of East Texas NB of Marshall.
How big was East Texas NB of Marshall when it failed?
East Texas NB of Marshall had approximately $121.6M in total assets and $113.1M in deposits at the time of failure.
Other failures in 1999
| Date | Bank | Assets |
|---|---|---|
| Dec 10, 1999 | Golden City Commercial Bank | $87.2M |
| Nov 22, 1999 | Pacific Thrift and Loan Co | $127.3M |
| Sep 10, 1999 | Peoples NB of Commerce | $36.8M |
| Sep 1, 1999 | First NB of Keystone | $1.12B |
| Jul 9, 1999 | Oceanmark Bank, a FSB | $69.0M |
| Apr 23, 1999 | Zia New Mexico Bank | $17.3M |
| Mar 26, 1999 | Victory State Bank | $13.2M |
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