Bank failure · TX
The First State Bank (Frisco, TX) — failed June 4, 1987
The First State Bank of Frisco, Texas was closed on June 4, 1987 and resolved through a purchase and assumption. Promenade National Bank (TX) took over its insured deposits. At failure it held $43.3M in assets and $43.5M in deposits. The FDIC's estimated loss on the failure is $10.3M (23.8% of assets).
- Closing date
- June 4, 1987
- FDIC certificate #
- 16605
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Promenade National Bank
- Insurance fund
- FDIC
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