Bank failure · TX
Hobby Community Bank (Houston, TX) — failed June 29, 1989
Hobby Community Bank of Houston, Texas was closed on June 29, 1989 and resolved through a purchase and assumption. Iola State Bank (TX) took over its insured deposits. At failure it held $8.0M in assets and $8.5M in deposits. The FDIC's estimated loss on the failure is $3.3M (41.7% of assets).
- Closing date
- June 29, 1989
- FDIC certificate #
- 26969
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Iola State Bank
- Insurance fund
- FDIC
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