Bank failure · TX

The First State Bank (Childress, TX) — failed May 12, 1988

The First State Bank of Childress, Texas was closed on May 12, 1988 and resolved through a purchase and assumption. Citizens Stb of Dalhart (TX) took over its insured deposits. At failure it held $14.9M in assets and $14.6M in deposits. The FDIC's estimated loss on the failure is $3.5M (23.4% of assets).