Bank failure · MO

First Exchange Bank of Cape Girardeau (Cape Girardeau, MO) — failed May 7, 1992

First Exchange Bank of Cape Girardeau of Cape Girardeau, Missouri was closed on May 7, 1992 and resolved through a purchase and assumption (insured deposits). Commerce Bk Poplar Bluff (MO) took over its insured deposits. At failure it held $84.4M in assets and $87.0M in deposits. The FDIC's estimated loss on the failure is $9.7M (11.5% of assets).