Bank failure · TX

First American Bank & Tr of Friendswood (Friendswood, TX) — failed March 10, 1988

First American Bank & Tr of Friendswood of Friendswood, Texas was closed on March 10, 1988 and resolved through a payout (deposit payoff). 0 (0) took over its insured deposits. At failure it held $6.4M in assets and $6.3M in deposits. The FDIC's estimated loss on the failure is $2.3M (36.3% of assets).