Bank failure · TX

First Republicbank- Austin, N.A. (Austin, TX) — failed July 29, 1988

First Republicbank- Austin, N.A. of Austin, Texas was closed on July 29, 1988 and resolved through a purchase and assumption. Ncnb Texas National Bank (TX) took over its insured deposits. At failure it held $1.7B in assets and $1.3B in deposits. The FDIC's estimated loss on the failure is $45.9M (2.7% of assets).