Bank failure · TX

First Sb of Hempstead (Hempstead, TX) — failed September 14, 1990

First Sb of Hempstead of Hempstead, Texas was closed on September 14, 1990 and resolved through a payout (deposit payoff). Payout (NA) took over its insured deposits. At failure it held $35.4M in assets and $30.9M in deposits. The FDIC's estimated loss on the failure is $1.7M (4.7% of assets).