Bank Failure
The First State Bank
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Closed July 16, 1973 · Vernon, TX · FDIC Cert #11170.
- Closing date
- July 16, 1973
- Headquarters
- Vernon, TX
- FDIC Certificate
- 11170
- Total assets at closing
- $16.2M
- Total deposits at closing
- $14.8M
- 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 July 16, 1973, regulators closed The First State Bank, headquartered in Vernon, TX. At closing, the institution held approximately $16.2M in assets and $14.8M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 2489th largest of the 3,526 bank failures in the FDIC record, and the 2nd of 6 in 1973. 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 The First State Bank fail?
The First State Bank was closed by regulators on July 16, 1973.
How big was The First State Bank when it failed?
The First State Bank had approximately $16.2M in total assets and $14.8M in deposits at the time of failure.
Other failures in 1973
| Date | Bank | Assets |
|---|---|---|
| Oct 18, 1973 | United States National Bank | $1.27B |
| Oct 5, 1973 | First National Bank of Eldora | $8.1M |
| May 7, 1973 | Elm Creek State Bank | $3.2M |
| Mar 26, 1973 | Skyline National Bank | $6.5M |
| Jan 19, 1973 | Delta Security Bank and Trust Company | $9.8M |
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