Bank failure · TX

Independence Bank (Plano, TX) — failed March 19, 1992

Independence Bank of Plano, Texas was closed on March 19, 1992 and resolved through a purchase and assumption (insured deposits). First Western National B (TX) took over its insured deposits. At failure it held $21.8M in assets and $20.8M in deposits. The FDIC's estimated loss on the failure is $2.8M (12.9% of assets).