Bank failure · TX
United Bank of Texas (Austin, TX) — failed June 4, 1987
United Bank of Texas of Austin, Texas was closed on June 4, 1987 and resolved through a insured deposit transfer. Mbank Austin National As (TX) took over its insured deposits. At failure it held $208.4M in assets and $190.4M in deposits. The FDIC's estimated loss on the failure is $62.4M (30.0% of assets).
- Closing date
- June 4, 1987
- FDIC certificate #
- 20065
- Resolution
- Insured deposit transfer (failure)
- Acquiring institution
- Mbank Austin National As
- Insurance fund
- FDIC
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