Bank failure · TX

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

First National Bank in Center of Center, Texas was closed on December 15, 1988 and resolved through a purchase and assumption. Citizens Bank (TX) took over its insured deposits. At failure it held $26.1M in assets and $26.1M in deposits. The FDIC's estimated loss on the failure is $5.5M (21.3% of assets).