Bank failure · TX

Chireno State Bank (Chireno, TX) — failed May 9, 1991

Chireno State Bank of Chireno, Texas was closed on May 9, 1991 and resolved through a purchase and assumption. The First State Bank (TX) took over its insured deposits. At failure it held $12.4M in assets and $12.3M in deposits. The FDIC's estimated loss on the failure is $1.5M (11.8% of assets).