Bank failure · TX

First State Bank (Vega, TX) — failed April 1, 1993

First State Bank of Vega, Texas was closed on April 1, 1993 and resolved through a purchase and assumption (insured deposits). Citizens Stb of Dalhart (TX) took over its insured deposits. At failure it held $21.4M in assets and $20.7M in deposits. The FDIC's estimated loss on the failure is $2.8M (13.2% of assets).