Bank failure · TX
First State Bank (Milford, TX) — failed June 11, 1987
First State Bank of Milford, Texas was closed on June 11, 1987 and resolved through a purchase and assumption. Ellis County State Bank (TX) took over its insured deposits. At failure it held $7.3M in assets and $6.9M in deposits. The FDIC's estimated loss on the failure is $1.9M (26.5% of assets).
- Closing date
- June 11, 1987
- FDIC certificate #
- 3346
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Ellis County State Bank
- Insurance fund
- FDIC
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