Bank failure · TX

Guaranty Bank (Dallas, TX) — failed June 2, 1988

Guaranty Bank of Dallas, Texas was closed on June 2, 1988 and resolved through a purchase and assumption. Red Oak State Bank (TX) took over its insured deposits. At failure it held $82.1M in assets and $75.5M in deposits. The FDIC's estimated loss on the failure is $40.7M (49.5% of assets).