Sanderson State Bank, Sanderson, Texas, was closed Dec. 12, 2008

December 13, 2008

From FDIC Press Releases dated December 12, 2008:

Sanderson State Bank, Sanderson, Texas, was closed today by the Texas Department of Banking, and the Federal Deposit Insurance Corporation (FDIC) was named receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with The Pecos County State Bank, Fort Stockton, Texas, to assume all of Sanderson State Bank’s deposits, including those that exceeded the deposit insurance limit.

Sanderson State Bank’s sole office will reopen on Monday as a branch of The Pecos County State Bank.

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