Bank failure · TX
The Farmers & Merchants State Bank (Ballinger, TX) — failed March 16, 1989
The Farmers & Merchants State Bank of Ballinger, Texas was closed on March 16, 1989 and resolved through a purchase and assumption. The First National Bank of (TX) took over its insured deposits. At failure it held $22.5M in assets and $22.0M in deposits. The FDIC's estimated loss on the failure is $2.1M (9.4% of assets).
- Closing date
- March 16, 1989
- FDIC certificate #
- 11893
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- The First National Bank of
- Insurance fund
- FDIC
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