Bank Failure
Harris County Bank Houston, N.A.
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Closed February 25, 1988 · Houston, TX · FDIC Cert #20273.
- Closing date
- February 25, 1988
- Headquarters
- Houston, TX
- FDIC Certificate
- 20273
- Total assets at closing
- $80.7M
- Total deposits at closing
- $81.2M
- Estimated loss to the insurance fund
- $33.4M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Omnibanc South National
Context
On February 25, 1988, regulators closed Harris County Bank Houston, N.A., headquartered in Houston, TX. At closing, the institution held approximately $80.7M in assets and $81.2M in deposits. The FDIC record names Omnibanc South National as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $33.4M.
By assets at closing this is the 1334th largest of the 3,526 bank failures in the FDIC record, and the 71st of 232 in 1988. It falls in the period the record labels S&L / Banking Crisis (1980-1995), a period with 2,367 failures peaking at 530 in 1989.
Deregulation, interest-rate shocks, and commercial real estate blowups produced the worst US banking failure wave since the Depression. Resulted in FIRREA (1989) and the RTC.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Harris County Bank Houston, N.A. fail?
Harris County Bank Houston, N.A. was closed by regulators on February 25, 1988.
Who acquired Harris County Bank Houston, N.A.?
The FDIC record names Omnibanc South National as the acquiring institution in the resolution of Harris County Bank Houston, N.A.
How big was Harris County Bank Houston, N.A. when it failed?
Harris County Bank Houston, N.A. had approximately $80.7M in total assets and $81.2M in deposits at the time of failure.
Other failures in 1988
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1988 | First Industrial Bank of Rocky Ford | $12.5M |
| Dec 16, 1988 | First Southwest Bank | $9.8M |
| Dec 15, 1988 | Texas National Bank | $37.7M |
| Dec 15, 1988 | First National Bank in Center | $26.1M |
| Dec 15, 1988 | Crescent City Bank & Trust Company | $24.0M |
| Dec 15, 1988 | Texas Bank of Plano | $15.1M |
| Dec 15, 1988 | First National Bank in Bogata | $13.2M |
| Dec 9, 1988 | Silverado S&LA | $2.32B |
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