Bank failure · TX

East Texas State Bank (Buna, TX) — failed November 17, 1988

East Texas State Bank of Buna, Texas was closed on November 17, 1988 and resolved through a purchase and assumption. First Nb of Bonham (TX) took over its insured deposits. At failure it held $21.3M in assets and $20.6M in deposits. The FDIC's estimated loss on the failure is $4.7M (22.0% of assets).