Bank failure · TX
Red Oak State Bank (Red Oak, TX) — failed July 9, 1987
Red Oak State Bank of Red Oak, Texas was closed on July 9, 1987 and resolved through a purchase and assumption. Red Oak State Bank (TX) took over its insured deposits. At failure it held $44.4M in assets and $42.5M in deposits. The FDIC's estimated loss on the failure is $6.6M (15.0% of assets).
- Closing date
- July 9, 1987
- FDIC certificate #
- 9972
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Red Oak State Bank
- Insurance fund
- FDIC
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