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Bank failure · TX

First State Bank (Tenaha, TX) — failed December 3, 1959

First State Bank of Tenaha, Texas was closed on December 3, 1959 and resolved through a payout (deposit payoff). 0 (0) took over its insured deposits. At failure it held $1.3M in assets and $1.1M in deposits.

Closing date
December 3, 1959
Resolution
Payout (deposit payoff) (failure)
Acquiring institution
0
Insurance fund
FDIC

Other failures in 1959

What happens when a bank fails