Bank failure · TX

First National Bank of Sanger (Sanger, TX) — failed March 1, 1990

First National Bank of Sanger of Sanger, Texas was closed on March 1, 1990 and resolved through a purchase and assumption. The Gainesville National Ba (TX) took over its insured deposits. At failure it held $19.7M in assets and $19.9M in deposits. The FDIC's estimated loss on the failure is $2.8M (14.3% of assets).