Bank failure · TX

Farmers State Bank (Schulenberg, TX) — failed March 8, 1990

Farmers State Bank of Schulenberg, Texas was closed on March 8, 1990 and resolved through a purchase and assumption. First Bank (TX) took over its insured deposits. At failure it held $32.7M in assets and $33.4M in deposits. The FDIC's estimated loss on the failure is $6.7M (20.4% of assets).