Bank failure · TX
Bank of Mabank (Mabank, TX) — failed December 17, 1987
Bank of Mabank of Mabank, Texas was closed on December 17, 1987 and resolved through a purchase and assumption. First State Bank (TX) took over its insured deposits. At failure it held $43.8M in assets and $44.5M in deposits. The FDIC's estimated loss on the failure is $9.7M (22.0% of assets).
- Closing date
- December 17, 1987
- FDIC certificate #
- 16616
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First State Bank
- Insurance fund
- FDIC
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