Data / Bank failures / 1989 / The Farmers & Merchants State Bank
The Farmers & Merchants State Bank, Ballinger, TX: failed March 16, 1989
The Farmers & Merchants State Bank in Ballinger, Texas, failed on March 16, 1989. The First National Bank of of Rotan, TX, took over its deposits. It held $22.5 million in assets and $22 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $2.1 million (9.4% of its assets). By assets it was the 430th largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- March 16, 1989
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- The First National Bank of, Rotan, TX
- Total assets
- $22,534,000
- Total deposits
- $22,005,000
- Estimated cost to the FDIC
- $2,115,913 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 11893
Other bank failures in Texas, 1987 to 1991
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Alvarado National Bank | Alvarado | November 14, 1991 | $9.2 million | $9.5 million | $2.8 million | The First National Bank in |
| Union Bank | San Antonio | October 31, 1991 | $84.9 million | $85.2 million | $8.9 million | Channelview Bank |
| First National Bank, Bedford | Bedford | October 24, 1991 | $23.2 million | $23.3 million | $2.4 million | First International Bank |
| First Federal Savings | Lubbock | October 11, 1991 | $223.7 million | $222.5 million | $5.2 million | First NB of Lubbock |
| Reagan State Bank | Big Lake | October 3, 1991 | $20.3 million | $20.9 million | $4.6 million | Security State Bank |
| First Federal Savings | Beaumont | September 27, 1991 | $251.2 million | $251.7 million | $24.9 million | Kilgore FS&LA |
| Davy Crockett FS & La | Crockett | September 13, 1991 | $50.5 million | $48.3 million | $2.3 million | |
| The San Saba National Bank | San Saba | August 29, 1991 | $15.6 million | $15.5 million | $1.1 million | First Llano Bank |
Other failed banks The First National Bank of took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| The Washington Bank (of Maryland) | Baltimore | MD | May 10, 1991 | $39 million | $39 million | $968,346 | The First National Bank of |
| Boston Trade Bank | Boston | MA | May 3, 1991 | $307 million | $301.5 million | $127.3 million | The First National Bank of |
| The State Bank of Omaha | Omaha | TX | December 14, 1990 | $20.5 million | $20.6 million | $5.3 million | The First National Bank of |
| United Peoples Bank | Lampasas | TX | October 11, 1990 | $32.7 million | $32.8 million | $6.5 million | The First National Bank of |
| Merchantsbank of Boston, A Co-Op | Boston | MA | May 18, 1990 | $392.2 million | $391 million | $95.6 million | The First National Bank of |
| Alvord National Bank | Alvord | TX | March 29, 1990 | $7.6 million | $7.7 million | $495,560 | The First National Bank of |
| Liberty City State Bank | Liberty City | TX | March 15, 1990 | $15.2 million | $15 million | $1.5 million | The First National Bank of |
| Farmers State Bank of Shiro, Texas | Shiro | TX | January 25, 1990 | $4.6 million | $4.4 million | $2.1 million | The First National Bank of |
All bank failures in 1989 · All bank failures in Texas · Every failed bank The First National Bank of took over · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.