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Friday, December 13, 2013

Bank Failure #24 in 2013: Texas Community Bank, National Association, The Woodlands, Texas

by Calculated Risk on 12/13/2013 07:52:00 PM

From the FDIC: Spirit of Texas Bank, SSB, College Station, Texas, Assumes All of the Deposits of Texas Community Bank, National Association, The Woodlands, Texas

As of September 30, 2013, Texas Community Bank, National Association had approximately $160.1 million in total assets and $142.6 million in total deposits.
...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $10.8 million. ... Texas Community Bank, National Association is the 24th FDIC-insured institution to fail in the nation this year, and the second in Texas.
This might be the last failure this year, and that would make the number of failures this year the least since 2007 when only 3 banks failed (25 banks failed in 2008 - so this year will be close to 2008, and 51 banks failed last year).