Bank failure · TX

Mercantile Bank & Trust (San Antonio, TX) — failed June 30, 1988

Mercantile Bank & Trust of San Antonio, Texas was closed on June 30, 1988 and resolved through a purchase and assumption. Groos Bank National Assn (TX) took over its insured deposits. At failure it held $76.2M in assets and $81.6M in deposits. The FDIC's estimated loss on the failure is $12.4M (16.3% of assets).