Bank failure · TX

The First State Bank (Rockwall, TX) — failed May 26, 1988

The First State Bank of Rockwall, Texas was closed on May 26, 1988 and resolved through a insured deposit transfer. Community Bank (TX) took over its insured deposits. At failure it held $39.9M in assets and $39.7M in deposits. The FDIC's estimated loss on the failure is $14.8M (37.1% of assets).