Bank failure · TX

Century National Bank (Austin, TX) — failed June 16, 1988

Century National Bank of Austin, Texas was closed on June 16, 1988 and resolved through a purchase and assumption. Community National Bank (TX) took over its insured deposits. At failure it held $54.0M in assets and $56.1M in deposits. The FDIC's estimated loss on the failure is $13.8M (25.5% of assets).