Bank failure · TX
Franklin Bank, SSB (Houston, TX) — failed November 7, 2008
Franklin Bank, SSB of Houston, Texas was closed on November 7, 2008 and resolved through a purchase and assumption. Prosperity Bank (TX) took over its insured deposits. At failure it held $5.1B in assets and $3.7B in deposits. The FDIC's estimated loss on the failure is $614.1M (12.1% of assets).
- Closing date
- November 7, 2008
- FDIC certificate #
- 26870
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Prosperity Bank
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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