Bank failure · TX
Security National Bank of Elgin (Elgin, TX) — failed April 19, 1990
Security National Bank of Elgin of Elgin, Texas was closed on April 19, 1990 and resolved through a purchase and assumption. Elgin Bank of Texas (TX) took over its insured deposits. At failure it held $10.8M in assets and $10.7M in deposits. The FDIC's estimated loss on the failure is $2.4M (21.7% of assets).
- Closing date
- April 19, 1990
- FDIC certificate #
- 24915
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Elgin Bank of Texas
- Insurance fund
- BIF
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