Bank failure · TX

First National Bank (Sherman, TX) — failed June 30, 1988

First National Bank of Sherman, Texas was closed on June 30, 1988 and resolved through a purchase and assumption. First Nb of Van Alstyne (TX) took over its insured deposits. At failure it held $24.5M in assets and $24.2M in deposits. The FDIC's estimated loss on the failure is $6.0M (24.4% of assets).