Bank failure · MO

First Exchange Bank of Madison County (Fredericktown, MO) — failed May 7, 1992

First Exchange Bank of Madison County of Fredericktown, Missouri was closed on May 7, 1992 and resolved through a purchase and assumption (insured deposits). Commerce Bk St Francois (MO) took over its insured deposits. At failure it held $34.8M in assets and $34.2M in deposits. The FDIC's estimated loss on the failure is $1.6M (4.7% of assets).