Bank failure · TX

Southwest National Bank (Austin, TX) — failed June 28, 1990

Southwest National Bank of Austin, Texas was closed on June 28, 1990 and resolved through a purchase and assumption. Texas Bank (TX) took over its insured deposits. At failure it held $33.6M in assets and $33.6M in deposits. The FDIC's estimated loss on the failure is $7.3M (21.8% of assets).