Bank failure · TX

First Nb of the Panhandle (Panhandle, TX) — failed June 14, 1996

First Nb of the Panhandle of Panhandle, Texas was closed on June 14, 1996 and resolved through a purchase and assumption (insured deposits). Sun Bank (TX) took over its insured deposits. At failure it held $68.1M in assets and $68.0M in deposits. The FDIC's estimated loss on the failure is $16.3M (23.9% of assets).