Overextended lending and a slumping economy forced...
Overextended lending and a slumping economy forced regulators to shut down three banks in Texas and two in Colorado. Guaranty Bank of Dallas, Williamstown Bank NA of Houston and River Plaza National Bank of Fort Worth were declared insolvent, pushing the state’s 1988 bank failure tally to 32. The Federal Deposit Insurance Corp. was named receiver for the three banks.
