Bank failure · TX

First City, Texas - Austin (Austin, TX) — failed April 20, 1988

First City, Texas - Austin of Austin, Texas was closed on April 20, 1988 and resolved through a a/a. First City, Texas - Austin (TX) took over its insured deposits. At failure it held $710.5M in assets and $601.3M in deposits. The FDIC's estimated loss on the failure is $77.3M (10.9% of assets).