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Bank failure · TX

First State Bank (Elgin, TX) — failed January 9, 1939

First State Bank of Elgin, Texas was closed on January 9, 1939 and resolved through a payout (deposit payoff). 0 (0) took over its insured deposits. At failure it held $347K in assets and $287K in deposits.

Closing date
January 9, 1939
Resolution
Payout (deposit payoff) (failure)
Acquiring institution
0
Insurance fund
FDIC

Other failures in 1939

What happens when a bank fails