Bank Failure
First State Bank & Trust Co.
BankRegReports is independent of First State Bank & Trust Co. and never asks for online banking logins or passwords.
Closed November 19, 1976 · Rio Grande City, TX .
- Closing date
- November 19, 1976
- Headquarters
- Rio Grande City, TX
- Total assets at closing
- $13.8M
- Total deposits at closing
- $12.1M
- 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 November 19, 1976, regulators closed First State Bank & Trust Co., headquartered in Rio Grande City, TX. At closing, the institution held approximately $13.8M in assets and $12.1M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 2595th largest of the 3,526 bank failures in the FDIC record, and the 10th of 16 in 1976. 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 & Trust Co. fail?
First State Bank & Trust Co. was closed by regulators on November 19, 1976.
How big was First State Bank & Trust Co. when it failed?
First State Bank & Trust Co. had approximately $13.8M in total assets and $12.1M in deposits at the time of failure.
Other failures in 1976
| Date | Bank | Assets |
|---|---|---|
| Dec 3, 1976 | International City Bank and Trust Company | $176.3M |
| Oct 19, 1976 | Centennial Bank | $13.7M |
| Oct 8, 1976 | The Hamilton Bank and Trust Company | $40.1M |
| Sep 15, 1976 | American Bank & Trust Company | $224.5M |
| Sep 14, 1976 | The New Boston Bank and Trust Company | $6.7M |
| Jun 28, 1976 | Citizens State Bank | $17.4M |
| Jun 25, 1976 | Coronado National Bank | $2.6M |
| Jun 25, 1976 | MT. Zion Deposit Bank | $507K |
Explore: all failures · TX bank events · 1976 events · events hub