Bank failure · TX
Citizens Bank and Trust (Calvert, TX) — failed March 9, 1989
Citizens Bank and Trust of Calvert, Texas was closed on March 9, 1989 and resolved through a purchase and assumption. First State Bank (TX) took over its insured deposits. At failure it held $14.2M in assets and $16.8M in deposits. The FDIC's estimated loss on the failure is $5.3M (37.5% of assets).
- Closing date
- March 9, 1989
- FDIC certificate #
- 13247
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First State Bank
- Insurance fund
- FDIC
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