Bank failure · TX

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

First City, Texas - Gateway of Beaumont, Texas was closed on April 20, 1988 and resolved through a a/a. First City, Texas - Gateway (TX) took over its insured deposits. At failure it held $76.5M in assets and $71.5M in deposits. The FDIC's estimated loss on the failure is $48K (0.1% of assets).