Bank failure · TX

Guaranty Bond State Bank (Redwater, TX) — failed July 27, 1982

Guaranty Bond State Bank of Redwater, Texas was closed on July 27, 1982 and resolved through a purchase and assumption. First Bank&trust Redwate (TX) took over its insured deposits. At failure it held $14.1M in assets and $12.4M in deposits. The FDIC's estimated loss on the failure is $3.4M (24.3% of assets).