Bank failure · TX

First Republicbank-Jefferson County (Beaumont, TX) — failed July 29, 1988

First Republicbank-Jefferson County of Beaumont, 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 $240.7M in assets and $223.9M in deposits. The FDIC's estimated loss on the failure is $46.9M (19.5% of assets).