Bank failure · TX

Allen National Bank (Allen, TX) — failed July 14, 1988

Allen National Bank of Allen, Texas was closed on July 14, 1988 and resolved through a purchase and assumption. Benchmark Bank (TX) took over its insured deposits. At failure it held $26.3M in assets and $26.2M in deposits. The FDIC's estimated loss on the failure is $7.1M (27.0% of assets).