Bank Failure
Texas National Bank
Closed June 23, 1988 · Victoria, TX · FDIC Cert #25793.
- Closing date
- June 23, 1988
- Headquarters
- Victoria, TX
- FDIC Certificate
- 25793
- Total assets at closing
- $14.4M
- Total deposits at closing
- $14.9M
- Estimated loss to DIF
- $3.2M
- Resolution
- Failure (closed by regulators)
- Acquirer
- Texas NB of Victoria
Context
On June 23, 1988, regulators closed Texas National Bank, headquartered in Victoria, TX. At closing, the institution held approximately $14.4M in assets and $14.9M in deposits. The FDIC arranged a resolution under which Texas NB of Victoria acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $3.2M.
By assets at closing this is the 2563rd largest of the 3,526 bank failures in the FDIC record, and the 176th 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 Texas National Bank fail?
Texas National Bank was closed by regulators on June 23, 1988.
Who acquired Texas National Bank?
Texas NB of Victoria acquired the failed bank's deposits and operations on June 23, 1988 under an FDIC-brokered resolution.
How big was Texas National Bank when it failed?
Texas National Bank had approximately $14.4M in total assets and $14.9M 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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