Bank failure · TX

Merabank Texas (El Paso, TX) — failed May 31, 1991

Merabank Texas of El Paso, Texas was closed on May 31, 1991 and resolved through a purchase and assumption (insured deposits). Branch Sale (NA) took over its insured deposits. At failure it held $1.2B in assets and $744.9M in deposits. The FDIC's estimated loss on the failure is −$4.4M (-0.4% of assets).