Bank failure · TX

The Kerens Bank (Kerens, TX) — failed July 25, 1991

The Kerens Bank of Kerens, Texas was closed on July 25, 1991 and resolved through a purchase and assumption. Cedar Creek Bank (TX) took over its insured deposits. At failure it held $19.5M in assets and $19.8M in deposits. The FDIC's estimated loss on the failure is $5.1M (26.2% of assets).