Bank failure · TN

First Bank & Trust (Tracy City, TN) — failed June 28, 1985

First Bank & Trust of Tracy City, Tennessee was closed on June 28, 1985 and resolved through a purchase and assumption. First Nb of Shelbyville (TN) took over its insured deposits. At failure it held $21.1M in assets and $19.7M in deposits. The FDIC's estimated loss on the failure is $2.9M (13.8% of assets).