Bank failure · TX

Mc Allen State Bank (Mc Allen, TX) — failed April 19, 1988

Mc Allen State Bank of Mc Allen, Texas was closed on April 19, 1988 and resolved through a purchase and assumption. First City Nb of Houston (TX) took over its insured deposits. At failure it held $580.0M in assets and $556.2M in deposits. The FDIC's estimated loss on the failure is $2.2M (0.4% of assets).