Bank failure · TX

First National Bank of Garland (Garland, TX) — failed March 29, 1990

First National Bank of Garland of Garland, Texas was closed on March 29, 1990 and resolved through a purchase and assumption. State Bank of Texas (TX) took over its insured deposits. At failure it held $9.4M in assets and $10.1M in deposits. The FDIC's estimated loss on the failure is $2.3M (24.6% of assets).