Bank failure · TX

First National Bank of Desoto (Desoto, TX) — failed May 10, 1990

First National Bank of Desoto of Desoto, Texas was closed on May 10, 1990 and resolved through a purchase and assumption. Hibernia National Bank in T (TX) took over its insured deposits. At failure it held $24.1M in assets and $26.5M in deposits. The FDIC's estimated loss on the failure is $8.6M (35.8% of assets).