Bank failure · TX

Community Bank (New Caney, TX) — failed March 22, 1990

Community Bank of New Caney, Texas was closed on March 22, 1990 and resolved through a purchase and assumption. Channelview Bank (TX) took over its insured deposits. At failure it held $42.0M in assets and $42.1M in deposits. The FDIC's estimated loss on the failure is $7.5M (17.8% of assets).