Bank failure · TX

First State Bank (Memphis, TX) — failed March 27, 1986

First State Bank of Memphis, Texas was closed on March 27, 1986 and resolved through a purchase and assumption. Memphis State Bank (TX) took over its insured deposits. At failure it held $17.0M in assets and $16.3M in deposits. The FDIC's estimated loss on the failure is $4.7M (27.7% of assets).