Bank Failure
First State Bank of Tuscola
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Closed October 17, 1966 · Tuscola, TX .
- Closing date
- October 17, 1966
- Headquarters
- Tuscola, TX
- Total assets at closing
- $3.3M
- Total deposits at closing
- $3.1M
- Estimated loss to the insurance fund
- Not published (the FDIC feed carries no estimate for this failure)
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
Context
On October 17, 1966, regulators closed First State Bank of Tuscola, headquartered in Tuscola, TX. At closing, the institution held approximately $3.3M in assets and $3.1M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 3051st largest of the 3,526 bank failures in the FDIC record, and the 2nd of 7 in 1966. It falls in the period the record labels Postwar Stability (1945-1979), a period with 161 failures peaking at 16 in 1976.
Three decades of regulated calm — Reg Q ceilings, geographic branching limits, and high industry profits kept failures rare.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did First State Bank of Tuscola fail?
First State Bank of Tuscola was closed by regulators on October 17, 1966.
How big was First State Bank of Tuscola when it failed?
First State Bank of Tuscola had approximately $3.3M in total assets and $3.1M in deposits at the time of failure.
Other failures in 1966
| Date | Bank | Assets |
|---|---|---|
| Oct 12, 1966 | Public Bank | $110.1M |
| Apr 7, 1966 | Bank of Gray Summit | $1.9M |
| Mar 17, 1966 | Saguache County National Bank | $512K |
| Jan 31, 1966 | Blanket State Bank | $1.3M |
| Jan 24, 1966 | Citizens Bank | $832K |
| Jan 12, 1966 | Five Points National Bank | $2.7M |
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