Bank Failure
National Bank of Texas
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Closed May 19, 1988 · Houston, TX · FDIC Cert #24559.
- Closing date
- May 19, 1988
- Headquarters
- Houston, TX
- FDIC Certificate
- 24559
- Total assets at closing
- $19.4M
- Total deposits at closing
- $26.1M
- Estimated loss to the insurance fund
- $13.6M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Old Braeswood National B
Context
On May 19, 1988, regulators closed National Bank of Texas, headquartered in Houston, TX. At closing, the institution held approximately $19.4M in assets and $26.1M in deposits. The FDIC record names Old Braeswood National B as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $13.6M.
By assets at closing this is the 2365th largest of the 3,526 bank failures in the FDIC record, and the 159th 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 National Bank of Texas fail?
National Bank of Texas was closed by regulators on May 19, 1988.
Who acquired National Bank of Texas?
The FDIC record names Old Braeswood National B as the acquiring institution in the resolution of National Bank of Texas.
How big was National Bank of Texas when it failed?
National Bank of Texas had approximately $19.4M in total assets and $26.1M 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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