Bank failure · TX

Cove State Bank (Copperas Cove, TX) — failed April 19, 1990

Cove State Bank of Copperas Cove, Texas was closed on April 19, 1990 and resolved through a purchase and assumption. The National Bank of Gatesv (TX) took over its insured deposits. At failure it held $37.3M in assets and $37.5M in deposits. The FDIC's estimated loss on the failure is $6.0M (16.1% of assets).