Bank failure · TX
Lake Austin National Bank (Austin, TX) — failed May 21, 1987
Lake Austin National Bank of Austin, Texas was closed on May 21, 1987 and resolved through a purchase and assumption. Greater Tx Bank Southwes (TX) took over its insured deposits. At failure it held $43.7M in assets and $43.3M in deposits. The FDIC's estimated loss on the failure is $14.1M (32.2% of assets).
- Closing date
- May 21, 1987
- FDIC certificate #
- 24487
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Greater Tx Bank Southwes
- Insurance fund
- FDIC
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