Bank Failure
FIRST STATE BANK
Closed March 27, 1986 · MEMPHIS, TX · FDIC Cert #11911.
- Closing date
- March 27, 1986
- Headquarters
- MEMPHIS, TX
- FDIC Certificate
- 11911
- Total assets at closing
- $17,008,000
- Total deposits at closing
- $16,307,000
- Estimated loss to DIF
- $4,708,000
- Resolution type
- other
- Acquirer
- MEMPHIS STATE BANK (FDIC Cert #2543)
Context
On March 27, 1986, regulators closed FIRST STATE BANK, headquartered in MEMPHIS, TX. At closing, the institution held approximately $17,008,000 in assets and $16,307,000 in deposits. The FDIC arranged a resolution under which MEMPHIS STATE BANK acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $4,708,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 1986
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 1986-12-31 | LINCOLN FS&LA | LOUISVILLE, KY | $460,843,000 |
| 1986-12-31 | CITIZENS BANK & TRUST COMPANY | ARCADIA, LA | $10,424,000 |
| 1986-12-29 | BANK OF KANSAS CITY | KANSAS CITY, MO | $114,114,000 |
| 1986-12-22 | ST. LOUIS FS&LA | CLAYTON, MO | $955,426,000 |
| 1986-12-19 | LAKELAND STATE BANK | PEQUOT LAKES, MN | $49,435,000 |
| 1986-12-19 | FARMERS STATE BANK | LUEDERS, TX | $9,695,000 |
| 1986-12-18 | FIRST BANK & TRUST CO. | BOOKER, TX | $94,888,000 |
| 1986-12-18 | LANDMARK NATIONAL BANK | DENVER, CO | $12,879,000 |
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