Data / Bank failures / 1973 / The First State Bank
The First State Bank, Vernon, TX: failed July 16, 1973
The First State Bank in Vernon, Texas, failed on July 16, 1973. It held $16.2 million in assets and $14.8 million in deposits at its last report. By assets it was the 2nd largest of 6 banks closed or assisted in 1973.
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The FDIC's record
- Closed
- July 16, 1973
- Type
- Failure
- How it was resolved
- Payout: the FDIC paid insured depositors directly
- Total assets
- $16,242,000
- Total deposits
- $14,797,000
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 11170
Other bank failures in Texas, 1971 to 1975
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Astro Bank | Houston | October 16, 1975 | $5.5 million | $5.2 million | ||
| Franklin Bank | Houston | March 24, 1975 | $20.7 million | $18.2 million | ||
| Sharpstown State Bank | Houston | January 25, 1971 | $78.9 million | $66.8 million |
All bank failures in 1973 · 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.