by Bill McBride on 9/13/2013 07:52:00 PM
Friday, September 13, 2013
As of June 30, 2013, First National Bank had approximately $3.1 billion in total assets and $2.3 billion in total deposits. In addition to assuming all of the deposits of First National Bank, PlainsCapital Bank agreed to purchase approximately $2.7 billion of First National Bank's assets. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $637.5 million. ... First National Bank is the 22nd FDIC-insured institution to fail in the nation this year, and the first in Texas. The last FDIC-insured institution closed in the state was First International Bank, Plano, on September 30, 2011.The FDIC is still at work. First National Bank was bigger than most recent failures.
Posted by Bill McBride on 9/13/2013 07:52:00 PM