Bank failure · TX

Community National Bank (Sherman, TX) — failed April 18, 1991

Community National Bank of Sherman, Texas was closed on April 18, 1991 and resolved through a purchase and assumption. American Bank of Sherman, N (TX) took over its insured deposits. At failure it held $19.0M in assets and $18.9M in deposits. The FDIC's estimated loss on the failure is $2.7M (14.3% of assets).