Bank failure · TX

Union Bank & Trust of Dallas (Dallas, TX) — failed May 5, 1988

Union Bank & Trust of Dallas of Dallas, Texas was closed on May 5, 1988 and resolved through a purchase and assumption. Cornerstone Bank NA (TX) took over its insured deposits. At failure it held $36.7M in assets and $38.5M in deposits. The FDIC's estimated loss on the failure is $8.3M (22.7% of assets).