Data / Bank failures / 1948 / The First State Bank
The First State Bank, Franklin, TX: failed December 18, 1948
The First State Bank in Franklin, Texas, failed on December 18, 1948. It held $694,000 in assets and $609,000 in deposits at its last report. By assets it was the 3rd largest of 3 banks closed or assisted in 1948.
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The FDIC's record
- Closed
- December 18, 1948
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Total assets
- $694,000
- Total deposits
- $609,000
- Charter
- State member bank (Federal Reserve)
- Insurance fund
- FDIC
All bank failures in 1948 · All bank failures in Texas · 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.