Bank failure · TX

Iredell State Bank (Iredell, TX) — failed July 12, 1990

Iredell State Bank of Iredell, Texas was closed on July 12, 1990 and resolved through a purchase and assumption. First Security Bank - Cranf (TX) took over its insured deposits. At failure it held $10.0M in assets and $10.1M in deposits. The FDIC's estimated loss on the failure is $2.4M (24.4% of assets).