Bank failure · TX

Texas Independence Bank (Pasadena, TX) — failed September 18, 1986

Texas Independence Bank of Pasadena, Texas was closed on September 18, 1986 and resolved through a purchase and assumption. Texas Independence Bank (TX) took over its insured deposits. At failure it held $12.3M in assets and $12.0M in deposits. The FDIC's estimated loss on the failure is $3.2M (26.2% of assets).