Bank failure · TX
Security Bank & Trust Company (Wharton, TX) — failed May 18, 1989
Security Bank & Trust Company of Wharton, Texas was closed on May 18, 1989 and resolved through a purchase and assumption. The First National Bank of (TX) took over its insured deposits. At failure it held $34.8M in assets and $37.1M in deposits. The FDIC's estimated loss on the failure is $9.4M (27.0% of assets).
- Closing date
- May 18, 1989
- FDIC certificate #
- 1220
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- The First National Bank of
- Insurance fund
- FDIC
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