The Graveyard › Banks › 1987
First State Bank
Milford, TX · failed June 11, 1987 · FDIC certificate 3346
First State Bank of Milford, TX failed on June 11, 1987. It opened in 1924, 63 years before. At its last report before that it held $7.3 million in assets and $6.9 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1985, it held $9.4 million. The FDIC estimates that the FDIC's insurance fund lost $1.9 million on it.
1984-031987-03
Assets at the end$7.3 millionlast report before June 11, 1987
Deposits at the end$6.9 million
Estimated loss to the fund$1.9 millionFDIC
Largest in the quarterly reports$9.4 millionJune 30, 1985
Equity to assets5.4%March 31, 1987
Loans not being repaid12.1%noncurrent, March 31, 1987
Return on assets-10.50%a year's rate, March 31, 1987
Staff6full time, March 31, 1987
Also ended in 1987
- Lyons Federal Trust & Savings · Countryside · $2.3 billion in assets · assisted
- Freedom S&LA · Tampa, FL · $1.9 billion in assets
- Vernon S&LA · Vernon, TX · $1.3 billion in assets
- Syracuse Savings Bank · Syracuse · $1.2 billion in assets · assisted
- Independent American SA · Irving, TX · $1.0 billion in assets
- First Financial Bank, FSB · New Orleans · $744.9 million in assets · assisted
History, not advice.
Source: Federal Deposit Insurance Corporation, BankFind Suite API. Source values and institutional identifiers are retained; formatting and normalization by Underfolio. No FDIC endorsement is implied. How these numbers are made · Report a data issue.