Bank failure · TX

First National Bank, Northeast (Austin, TX) — failed May 3, 1990

First National Bank, Northeast of Austin, Texas was closed on May 3, 1990 and resolved through a purchase and assumption. Hibernia National Bank in T (TX) took over its insured deposits. At failure it held $18.0M in assets and $18.7M in deposits. The FDIC's estimated loss on the failure is $4.7M (26.0% of assets).