Bank failure · MO

First Exchange Bank of St. Louis (St. Louis, MO) — failed May 7, 1992

First Exchange Bank of St. Louis of St. Louis, Missouri was closed on May 7, 1992 and resolved through a purchase and assumption (insured deposits). Magna Bk St Louis Clayto (MO) took over its insured deposits. At failure it held $55.6M in assets and $60.9M in deposits. The FDIC's estimated loss on the failure is $7.1M (12.7% of assets).