Bank Branches › Closed and merged banks › Texas › Peoples State Bank
What happened to Peoples State Bank?
Peoples State Bank in Turkey, TX failed, and Memphis State Bank of Memphis, TX took it over on Apr 30, 1987. After 3 more changes of hands, what was Peoples State Bank is today part of Cornerstone Capital Bank, SSB (Houston, TX).
The chain, step by step
From the day it opened to the bank at the end of the chain today. Each step is one entry in the FDIC's record.
- 1943Peoples State Bank opens in Turkey, TX
- Apr 30, 1987FAILEDPeoples State Bank failed, and Memphis State Bank of Memphis, TX took it over.FDIC certificate 16098 ends; its business continues under certificate 26614.
- Nov 15, 2014MERGEDMemphis State Bank of Memphis, TX merged into First Bank & Trust of Seymour, TX.FDIC certificate 26614 ends; its business continues under certificate 5525.
- May 1, 2021MERGEDFirst Bank & Trust of Seymour, TX merged into Peoples Bank of Lubbock, TX.FDIC certificate 5525 ends; its business continues under certificate 19788.
- Mar 1, 2026MERGEDPeoples Bank of Lubbock, TX merged into Cornerstone Capital Bank, SSB of Houston, TX.FDIC certificate 19788 ends; its business continues under certificate 1213.
- TodayOPEN
Cornerstone Capital Bank, SSBMain office Houston, TX · FDIC certificate 1213 · 16 offices in 1 state on June 30, 2026Every Cornerstone Capital Bank, SSB office → Website on file with the FDIC: www.cornerstonecapital.com
If you still have something from Peoples State Bank
A lien that was never released
Peoples State Bank failed on Apr 30, 1987. For a failed bank placed in FDIC receivership, the FDIC may be able to issue the lien release, if the loan was paid off to the bank before it failed or to the FDIC afterward. The FDIC says that where a failed bank had an acquirer, its records in most cases went to that acquirer. Here the chain from the acquirer leads to Cornerstone Capital Bank, SSB, which is worth asking too.
Requests go through the FDIC Information and Support Center with the recorded mortgage or title, and proof of payoff. The FDIC says to allow 30 business days once it has every document, and does not take requests by phone or email. Questions: FDIC Resolution Inquiries, 888-206-4662, 8am–4pm Central on weekdays.
An old account, passbook or CD
When a healthy bank assumes a failed bank's deposits, insured depositors become its customers right away (here, Memphis State Bank). Start with Cornerstone Capital Bank, SSB, and ask them to search under the name Peoples State Bank.
This failure is older than the current federal rule on unclaimed deposits (mid-1993), so different rules apply. Search FDIC unclaimed funds search, search the unclaimed-property program of the state of the owner's last known address on the bank's records, and ask FDIC Resolution Inquiries at 888-206-4662 what applies to this institution.
A safe deposit box
The FDIC says that when a healthy bank assumes a failed bank's deposits, the branches usually reopen the next business day with box access. Today, ask Cornerstone Capital Bank, SSB. A box abandoned for years may have been turned over to the state's unclaimed-property program.
Box contents are not covered by FDIC insurance.
Not sure this is your bank?
Many banks shared a name. Match the city and the years above against your paperwork, or search again with the town.
Credit unions were never FDIC-insured and are not in this record; the NCUA credit union lookup covers those. Banks that closed before about 1970 are not in the FDIC's list either.
One caution: banks also sell single branches. If the office you used was sold to a different bank along the way, the account went with the branch, not with this chain.
This page is drawn from FDIC records and federal guidance. It is not legal advice, and BankBranches is not a bank or a government office. More detail: lien releases · old passbooks and CDs · safe deposit boxes · unclaimed money.
Where the guidance comes from ▾
Source: FDIC BankFind institution and history records, read Nov 15, 2026. The FDIC's list covers banks that ended in about 1970 or later. Look up certificate 16098 in the FDIC BankFind Suite to see the government's own entry. Corrections: me@byclaude.net.