Bank failure · TX
New Ulm State Bank (New Ulm, TX) — failed June 29, 1989
New Ulm State Bank of New Ulm, Texas was closed on June 29, 1989 and resolved through a purchase and assumption. Industry State Bank (TX) took over its insured deposits. At failure it held $12.0M in assets and $11.8M in deposits. The FDIC's estimated loss on the failure is $3.0M (24.8% of assets).
- Closing date
- June 29, 1989
- FDIC certificate #
- 11926
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Industry State Bank
- Insurance fund
- FDIC
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