Bank failure · TX
First State Bank (Liberty, TX) — failed August 17, 1989
First State Bank of Liberty, Texas was closed on August 17, 1989 and resolved through a purchase and assumption. First City, Texas-Beaumont, (TX) took over its insured deposits. At failure it held $62.2M in assets and $61.4M in deposits. The FDIC's estimated loss on the failure is $18.4M (29.6% of assets).
- Closing date
- August 17, 1989
- FDIC certificate #
- 11158
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First City, Texas-Beaumont,
- Insurance fund
- BIF
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