Bank failure · TX

First National Bank of Kingswood (Kingswood, TX) — failed May 26, 1988

First National Bank of Kingswood of Kingswood, Texas was closed on May 26, 1988 and resolved through a purchase and assumption. Interstate Bank North (TX) took over its insured deposits. At failure it held $16.1M in assets and $16.2M in deposits. The FDIC's estimated loss on the failure is $4.6M (28.3% of assets).