Bank failure · TX

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

First Republicbank-Galveston, N.A. of Galveston, 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 $257.2M in assets and $242.6M in deposits. The FDIC's estimated loss on the failure is $13.9M (5.4% of assets).