Bank failure · TX
Merchants State Bank (Dallas, TX) — failed January 19, 1989
Merchants State Bank of Dallas, Texas was closed on January 19, 1989 and resolved through a purchase and assumption. Grand Bank (TX) took over its insured deposits. At failure it held $122.0M in assets and $124.6M in deposits. The FDIC's estimated loss on the failure is $21.0M (17.2% of assets).
- Closing date
- January 19, 1989
- FDIC certificate #
- 16374
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Grand Bank
- Insurance fund
- FDIC
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