Bank failure · TX

First National Bank in Bogata (Bogata, TX) — failed December 15, 1988

First National Bank in Bogata of Bogata, Texas was closed on December 15, 1988 and resolved through a purchase and assumption. Peoples National Bank (TX) took over its insured deposits. At failure it held $13.2M in assets and $13.3M in deposits. The FDIC's estimated loss on the failure is $1.2M (9.4% of assets).