Bank failure · TX

Town & Country National Bank (Harlingen, TX) — failed August 18, 1988

Town & Country National Bank of Harlingen, Texas was closed on August 18, 1988 and resolved through a purchase and assumption. Harlingen National Bank (TX) took over its insured deposits. At failure it held $29.6M in assets and $30.8M in deposits. The FDIC's estimated loss on the failure is $11.1M (37.5% of assets).