Bank failure · TX

Peoples Bank (Hewitt, TX) — failed June 13, 1991

Peoples Bank of Hewitt, Texas was closed on June 13, 1991 and resolved through a purchase and assumption. The National Bank of Gatesv (TX) took over its insured deposits. At failure it held $17.3M in assets and $16.7M in deposits. The FDIC's estimated loss on the failure is $4.0M (22.9% of assets).