Bank failure · TX

Southside National Bank (Nacogdoches, TX) — failed March 19, 1992

Southside National Bank of Nacogdoches, Texas was closed on March 19, 1992 and resolved through a purchase and assumption. Fredonia State Bank (TX) took over its insured deposits. At failure it held $12.0M in assets and $12.0M in deposits. The FDIC's estimated loss on the failure is $3.3M (27.4% of assets).