Bank failure · TX
First State Bank of McKinney (McKinney, TX) — failed August 17, 1989
First State Bank of McKinney of McKinney, Texas was closed on August 17, 1989 and resolved through a purchase and assumption. First Bank (TX) took over its insured deposits. At failure it held $18.1M in assets and $20.2M in deposits. The FDIC's estimated loss on the failure is $3.7M (20.3% of assets).
- Closing date
- August 17, 1989
- FDIC certificate #
- 20297
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First Bank
- Insurance fund
- BIF
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