Bank failure · TX

First State Bank (Bangs, TX) — failed January 23, 1992

First State Bank of Bangs, Texas was closed on January 23, 1992 and resolved through a purchase and assumption. Texas Bank (TX) took over its insured deposits. At failure it held $16.5M in assets and $16.4M in deposits. The FDIC's estimated loss on the failure is $3.0M (18.0% of assets).