Bank failure · TX

Lakeland State Bank (Austin, TX) — failed June 21, 1990

Lakeland State Bank of Austin, Texas was closed on June 21, 1990 and resolved through a purchase and assumption. Hill Country Bank (TX) took over its insured deposits. At failure it held $12.8M in assets and $12.8M in deposits. The FDIC's estimated loss on the failure is $1.7M (12.9% of assets).